A Hong Kong man in his seventies lost more than HK$13 million ($1.67 million) after a self-described cryptocurrency investment expert from Singapore contacted him on WhatsApp and directed him to a fraudulent trading application. The victim opened a crypto wallet, bought USDT and ETH, and transferred the assets to wallets specified by the scammer. The app displayed apparent profits, encouraging further transfers, but withdrawal requests were repeatedly rejected. Hong Kong police said the case was among more than 40 recent investment scams involving combined losses exceeding HK$50 million. Authorities also highlighted similar frauds involving fake platforms, including the Fun Coffee scheme, and urged residents to avoid unsolicited investment advice, unknown applications and unverified platforms.