Woman loses HK$2m in latest Tether investment scam

A 46-year-old woman was swindled of about HK$2 million after falling victim to an investment scam, in which she was persuaded by the fraudster to invest in cryptocurrency Tether (USDT). 

The woman surnamed Chan first met the fraudster via instant messaging app WhatsApp and wired about HK$2.26 million to different bank accounts in 10 transactions. 

She received about HK$260,000 in return. 

Yet, when Chan requested to withdraw her remaining cryptocurrency assets, she was asked to pay HK$1 million in administration fee. 

She then suspected she was cheated and filed a police report on Friday. 

Chan lost about HK$2 million in the scam and officers listed the case a obtaining property by deception. 

The case is now handled by the Sha Tin district crime investigation team and so far no one has been arrested.