66-Year-Old’s Crypto Woes: 3 Scams, 6.6M Lost!

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The Hong Kong Police Cyber Crime Bureau, ever the paragon of wisdom, has issued a warning after a 66-year-old retired man fell victim to three separate cryptocurrency scams. One might imagine the police, armed with nothing but a typewriter and a sense of duty, rallying the public against the insidious plague of digital swindlers. A noble endeavor, if one ignores the fact that the police themselves once sold samovars to the Tsar.

  • A Hong Kong senior loses HK$6.6M in three separate cryptocurrency scams-because, apparently, the universe conspires to test your patience.
  • Police warn against transferring money or crypto to strangers to avoid fraud. A piece of advice so profound, it could be etched onto a stone tablet and placed in a museum of common sense.
  • Fraudsters impersonating experts tricked the victim into losing all his savings. One wonders if the experts were also impersonating the victim’s common sense.

In total, the elderly victim lost HK$6.6 million after being misled by fraudsters posing as cryptocurrency experts. A sum so vast, it could buy a small island, a yacht, and a lifetime supply of existential dread.

In September 2025, the victim received a WhatsApp message from a fraudster claiming to be a cryptocurrency investment expert. The scammer promised guaranteed profits and offered to teach the victim how to invest in cryptocurrencies. “Aha!” thought the victim, “finally, a way to make money without risking my life savings!”

Trusting the individual, the elderly man handed over HK$1.4 million. After the cryptocurrency was deposited into the fraudster’s account, the scammer vanished. Realizing he had been deceived, the victim reported the incident to the police. A move so bold, it would make a Russian novel’s protagonist proud.

Not willing to give up, the victim went online to seek help from another “cryptocurrency expert” to recover his losses. The new fraudster reassured the victim that recovery was possible, but demanded 600,000 yuan as a deposit. Once the victim transferred the money, the so-called expert disappeared as well, and the victim realized he had been scammed a second time. “This is getting tiresome,” he muttered, “but at least I’ve learned to trust people less.”

In January of this year, the victim was contacted by another fraudster claiming to be able to recover his previous losses. This time, the fraudster insisted that the victim purchase 4.6 million yuan worth of cryptocurrency and deposit it into a designated account. As with the previous scams, the fraudster disappeared after the victim complied. At this point, the elderly man had lost his entire life savings to scammers. “I suppose I’ll just retire to a monastery,” he said, “and meditate on the futility of human nature.”

Police Warning and Advice

The police are urging citizens to be cautious and avoid transferring money or cryptocurrency to strangers. They emphasize that no one can guarantee to recover losses, and any offer that promises guaranteed returns or insider information is likely a scam. If someone offers to help recover funds after a previous scam, it is likely part of a serial fraud scheme. “And if you’re still not convinced,” the police add, “just remember that even the devil has a soft spot for the gullible.”

Additionally, the FBI has issued a warning about fake tokens on the Tron blockchain impersonating the agency. Scammers are using these fake tokens to trick users into providing personal information under the false pretense that their wallets are under investigation. “Because nothing says ‘trust me’ like a government agency pretending to be a blockchain scammer.”

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2026-03-21 14:48