TechFlow news, on November 12, according to the Wen Wei Po report, Hong Kong police released data on online investment fraud cases from January to September 2024. A total of 3,468 cases were reported, involving approximately HK$2.2 billion, with 35% related to virtual assets. Although this represents a decline compared to the same period last year, October saw a 24% month-on-month surge in case numbers, indicating a rebound trend.
The largest single loss came from a virtual asset scam, in which a female executive at a cryptocurrency company was defrauded of HK$78.47 million. Police noted that nearly 60% of victims first contacted scammers via instant messaging apps, and 40% of victims were aged between 40 and 59.
From January to October 2023, there were 5,017 investment fraud cases, involving about HK$4.93 billion. In September 2024, 312 cases occurred, involving HK$187 million; in October, the number rose to 380 cases, involving HK$248 million, showing an upward trend. Police urge investors to remain vigilant and beware of virtual asset investment traps.
