Hong Kong police disclose an “AI quantitative guaranteed profit” cryptocurrency scam, with victims losing HK$7.7 million

Deep Tide TechFlow message: On April 19, according to Hong Kong 01, Hong Kong police disclosed a crypto-currency investment scam case in which a woman was lured in using “AI quantitative trading” as a gimmick, and was deceived out of about 7.7 million Hong Kong dollars. The scammers posed as an “investment expert,” proactively contacted the victim via Telegram, and claimed that they could use “quantitative trading” and “AI algorithms” to achieve stable high returns. The victim initially and subsequently made 17 transfers from her electronic wallet(s) of approximately 7.7 million Hong Kong dollars’ worth of USDT and ETH to designated addresses; when she attempted to withdraw, her request was refused, at which point she realized she had been scammed.

Hong Kong police also remind the public that although cryptocurrencies may offer high return potential, they come with equally high volatility and high risk. The so-called “AI trading operation” and “quantitative guaranteed profits” are mostly scams used as lures; the public should beware of the “impossible triangle” trap of high returns, low risk, and low barriers to entry.