Police in Hong Kong are investigating a suspected cryptocurrency scam reported by a woman at an exchange shop in Mong Kok on Saturday. She reportedly lost around HK$93,000 ($12,000) in tether (USDT). According to the South China Morning Post, the 26-year-old victim had been approached online by a man who promised he could facilitate a cash exchange for her digital assets. She made an appointment with him to meet up in a shop and transferred 12,000 USDT worth about HK$93,660 to a wallet address he provided.
She said he told her to wait in the shop until his associate came with the cash. But after more than two hours of waiting for no one to show up, she contacted the authorities.
The police have classified the incident as a case of “obtaining property by deception.” Investigators from Mong Kok district crime division have taken over the case and are hunting for a man described as about 30 years old, heavyset, and about 1.8 meters tall.
The victim had reportedly been following the cryptocurrency shop’s social media account since August to gauge its legitimacy before deciding to proceed with the transaction. She said:
With so many scammers out there, I just decided to wait and see. Today, I came down to try the transaction, but obviously, it was a scam.”
Following the incident, the woman contacted the company associated with the social media account, only to learn that they had no affiliation with the shop in question.
