Hong Kong Insurance Professional Loses HK$26 Million in Romance Crypto Scam

A 52-year-old senior insurance professional in Hong Kong has reportedly lost HK$26 million (around US$3.3 million) after falling victim to a romance investment scam involving cryptocurrency.

Hong Kong police said they received 25 romance-related scam reports between July 24 and 30, with total losses close to HK$70 million, highlighting the rising threat of scams combining fake relationships with investment fraud.

The victim was introduced to a man who claimed to be a car trader and investment expert. Through WhatsApp conversations, he gained her trust and developed a romantic relationship with her.

The scammer later introduced cryptocurrency investments and persuaded her to use a fake trading platform. He also arranged another person posing as a “platform owner” to provide investment guidance.

Between August last year and February this year, the victim reportedly paid HK$4.45 million in cash and transferred nearly HK$22 million through bank transactions to accounts controlled by the scammers.

The fake platform showed large profits, but when she attempted to withdraw her funds, the scammers disappeared. She eventually realized she had been deceived and lost more than HK$26 million.

Police are investigating the case and warned that even experienced professionals can become victims of romance and investment scams. Investors should remain cautious of online relationships that quickly turn into investment opportunities, especially involving unknown platforms and high-return promises.