Crypto scammers have reportedly stolen over $1 million from two elderly people in Hong Kong. The scammers reportedly posed as law enforcement officials and convinced the victims to transfer their digital assets to a fake account in order to avoid charges related to money laundering and other crimes.

The victims reportedly transferred a total of 30 million Hong Kong dollars (approximately $3.9 million) worth of digital assets to the scammers, who then disappeared with the funds. The incident highlights the ongoing problem of scams and fraud in the digital asset industry, and underscores the need for greater education and awareness among users.

Scammers often use tactics such as impersonating law enforcement officials, creating fake websites or social media accounts, and offering unrealistic returns or investment opportunities to lure victims into parting with their digital assets. Users should be cautious of any unsolicited or suspicious communication, and should take steps to verify the identity and legitimacy of any individuals or organizations before transferring any funds.

(by Oluwapelumi Adejumo)