Cryptocurrency News

$450K Stolen from a Cryptocurrency Trader Based in Hong Kong

As per the recent reports, a cryptocurrency trader has been deprived of a large number of cryptocurrencies as a result of a scam. The cryptocurrency trader is a woman from Hong Kong who fell victim to a scam costing her a fortune.

It has been reported that the robbers pretended to be the buyers of cryptocurrencies. They lured the Hong Kong woman into selling her cryptocurrencies that were worth around 3.5 million Hong Kong Dollars. At the time of publishing the 3.5 million Hong Kong dollar figure translates into $450,000.

According to the report shared by the Morning Post of South China, the Hong Kong police are currently investigating the incident. They are currently looking into every aspect of the incident and trying to connect the dots. The Hong Kong authorities have confirmed that they are doing whatever is necessary to get to the bottom of the case. Their main goal is to find the gang involved in the scam and bring them to justice.

One of the spokesperson of the Hong Kong police has shared the details that they have been able to gather so far. The spokesperson has revealed that the gang conducting the scam is very professional and knows exactly how to make a fool out of the victims.

It has been established that one of the gang members takes on the role of the buyer where he/she processes several transactions. These transactions are made by the fraudsters to gain the trust of the victims so they start trusting them with their assets and money.

Further investigation into the matter has shown that there were indeed three transactions made to achieve the primary goal of gaining the target’s trust. All three of the transactions made from the robbers’ end were made between the $77,000 and $90,000 figure.

The victim confirmed that as soon as she handed the Tether tokens over to the fraudster, the rest of the gang members rushed towards him. The robbers then scared the target with knives and weapons only to lock her up in the office where the deal was being made.

Apart from the Tether tokens, the robbers also took away the $450,000 as well as her iPhone. However, the victim also had another phone on her that she used to contact her husband right away. She explained the entire situation to him who then contacted the local authorities right away.

The victim’s uncle who had chaperoned her to the dealing site claimed that he saw four people fleeing the site.

Fortunately for the victim, she came out of the situation unscathed, unlike others who have ended up with wounds and injuries after they got jumped by the fraudsters.

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