Hong Kong woman duped out of HK$1 million by fake AI investment app

A Hong Kong woman has lost more than HK$1 million (US$127,636) after being lured into a fraudulent Cryptocurrency scheme disguised as an Artificial Intelligence-powered trading app, with police reporting that over 70 similar scams had been recorded in the past week alone, resulting in total losses exceeding HK$50 million.Details released on the police’s CyberDefender page on Tuesday showed that the victim first spotted a fake investment on Facebook, which led her to a WhatsApp chat group upon clicking an embedded link.The group claimed to offer contacts of “Cryptocurrency investment experts” and persuaded her to download a sham investment app, where she was instructed to transfer HK$80,000 to a personal Cryptocurrency wallet.