Cryptocurrency investors in Hong Kong lost $216.6 million to crypto scams in 2022.
This, according to the Hong Kong Police constituted just over 10% of the nearly 23,000 technology crimes that were reported in 2022.
As reported by South China Morning Post, the number of victims had also skyrocketed by 67 percent in 2022.
“Financial losses from cryptocurrency-related scams doubled to more than HK$1.7 billion (US$216.6 million) in Hong Kong last year, as the number of victims tricked into funneling digital assets to online swindlers jumped 67 percent
“Latest police figures showed the scams accounted for more than half of the HK$3.2 billion conned out of city residents, as well as some victims living abroad, in nearly 23,000 reports of technology crimes last year.
Besides crypto scams, Hong Kong police figures reportedly show that law enforcement had handled around,” the report said.