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An insurance agent in Hong Kong lost more than $3.3 million to a romance scam built around a fake crypto investment app, according to local police.
How the fraud unfolded Hong Kong police flagged the case as a romance scam in which the victim was drawn into a fake crypto investment scheme.
The target, an insurance agent, is worth noting: financial industry professionals are far from immune to this category of fraud, and the choice of victim suggests the fraudsters were confident in their fabricated platform.
The $3.3 million figure covers one victim's total losses. Police have not disclosed how long the scheme ran, how initial contact was made, or whether any of the money has been recovered.
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