A financial manager in Hong Kong lost HK$17.8 million after investing in gold and cryptocurrencies through fake platforms

A financial manager in Hong Kong was scammed out of over HKD 17 million (USD 2,173,500) while investing in gold and cryptocurrency through a fake trading platform. Previously, he fell for a "profit" bait and was cheated out of HKD 2.6 million. An insider said, "This amount of money is intended to deceive the victim into believing that this is a legitimate trading platform, and is used as bait to induce her to further transactions and invest more funds." The police said, "The victim was deceived into transferring HKD 12.5 million to 29 bank accounts in Hong Kong for investment in 45 transactions from May last year to February this year."