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Investment Scams Surge in Hong Kong, Targeting Cryptocurrency, Stocks, and Forex

Hong Kong has seen a sharp rise in investment scams, with 1,174 cases reported in the first four months of this year, involving a total of HKD 786 million. Fraudsters are targeting popular investment tools such as cryptocurrency, stocks, and forex, often using online platforms to establish relationships with victims before luring them into downloading fake investment apps and investing money.

The scams have affected victims ranging from 14 to 86 years old, with the largest single case involving HKD 27.3 million. Investment scams involving cryptocurrency accounted for 57% of cases and HKD 420 million in losses, with stocks accounting for 20% and HKD 120 million in losses. The police warn that investment scams are showing no signs of slowing down and continue to be a major problem in Hong Kong.

Hong Kong Cryptocurrency
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