Retiree Loses $840K to Three Crypto Scams

A 66‑year‑old retiree from Hong Kong lost roughly $840,000 in a series of three crypto scams over six months. The saga began in September 2025 when the victim received a WhatsApp message from someone claiming to be a “virtual currency expert.” The scammer promised steady profits and persuaded the retiree to transfer $180,000 into a wallet controlled by the fraudster. When the contact disappeared, the victim reported the theft to police.

The Second Scam

Unwilling to accept the loss, the retiree searched online for another “crypto expert.” The second fraudster offered to recover the stolen money but demanded an upfront deposit of $75,000. After paying, the second scammer vanished as well.

The Final Attempt

In January 2026 a third fake specialist reached out via WhatsApp, offering to recover both earlier losses if the retiree purchased $585,000 worth of crypto and sent it to a specified address. The retiree complied, but the scammer disappeared again, leaving the total loss at about $840,000.

Takeaway

The retiree’s experience underscores the importance of due diligence and skepticism when dealing with unsolicited crypto offers. Even seemingly innocuous phrases like “inside information” can be red flags.