Pensioner loses $ 900,000 to cryptocurrency fraudsters

a 55-year-old Hong Kong resident lost all her savings — almost HK$ 7 million — on a fraudulent crypto project that «guaranteed» a profit of tens of thousands of dollars.

According to law enforcement agencies, the fraudster contacted his future victim on Instagram, where they actively communicated for some time. The offender then offered the woman to participate in investing in a highly profitable crypto project.

The victim was persuaded to create an account on the website in order to invest in cryptocurrency with a guaranteed return. The woman was assured that she would be paid $ 300 daily in addition to a guaranteed profit of tens of thousands of dollars.

As a result, in just two months, the pensioner lost all her savings — almost HK$ 7 million (about $ 891,723). The police stated that all the information, such as the price of crypto assets, positive dynamics and profitability of investments, presented on the website, was fake.