Gate News message, April 21 — A Hong Kong woman lost approximately 7.7 million HKD in USDT and ETH after being deceived by a scammer posing as an investment expert on Telegram. The fraudster claimed to use quantitative trading and AI algorithms to generate guaranteed high returns with low risk and low entry barriers. The victim transferred funds 17 times to wallets specified by the scammer before attempting withdrawal.
When the woman tried to cash out, the scammer refused using various excuses, revealing the fraud. Police highlighted that the combination of “high returns, low risk, and low barriers to entry” represents an impossible triangle and is a hallmark of scams. Authorities urged the public to verify the legitimacy of investment platforms before committing funds.
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