Three individuals apprehended in Hong Kong for purportedly swindling over HK$1 million from a man in a crypto trade scam

According to the authorities, they were notified last Thursday by a 46-year-old individual who had been engaged in four separate exchanges of Tether currency for a sum total of HK$1.4 million through a contact made in a crypto trade group on WeChat.

The complainant followed a woman, alleging to be an intermediary for a currency exchange, to a venue in Kwun Tong for a fifth transaction to purchase Tether, during which he handed over HK$1 million in cash to another man.

This man is purported to have instructed colleagues, appearing to be employees, to remove the cash from the premises while alleging to have completed the digital currency transfer to the victim’s agent’s e-wallet.

Suspecting a fraudulent scheme, the aggrieved party reported the matter to the police.

Subsequent police action led to the arrest of a woman, aged 56, and a man of 53 years later that day.