A 66-year-old retiree in Hong Kong lost roughly $840,000 after falling victim to three consecutive crypto scams, according to local authorities. The victim was initially approached via WhatsApp by someone posing as a “virtual currency expert” promising guaranteed profits, leading to a large transfer of funds that quickly disappeared.

Instead of ending there, the scam escalated as new fraudsters targeted the same victim with fake recovery services. Each time, the retiree trusted the promises, resulting in further losses. The case highlights how scammers often reuse victims through increasingly complex schemes.