Hong Kong police have exposed a cryptocurrency scam involving "AI-powered quantitative trading for guaranteed profits," resulting in losses of HK$7.7 million for victims.

Hong Kong police have disclosed a fraud case involving a woman who was lured into investing in cryptocurrencies under the guise of "AI quantitative trading." The scammers, posing as "investment experts," contacted the victim via Telegram, claiming they could achieve stable, high returns using "quantitative trading" and "AI algorithms." The victim transferred approximately HK$7.7 million worth of USDT and ETH from her e-wallet to a designated address on 17 separate occasions. She only realized she had been scammed when her attempts to withdraw the funds were refused. Hong Kong police warn that while cryptocurrencies offer high potential returns, they also come with high volatility and high risk. Claims of "AI trading" and "guaranteed profits through quantitative trading" are often scam bait. The public should be wary of the "impossible triangle" trap of high returns, low risk, and low entry barriers. (HK01)