NextSharkNextShark.com

Woman trying to adopt kitten loses $764,000 to crypto scam

Woman trying to adopt kitten loses $764,000 to crypto scam

The 58-year-old woman believed she was adopting a three-month-old kitten from Thailand from an online acquaintance in April last year

February 10, 2023
SHARE
A Hong Kong fashion executive lost 6 million Hong Kong dollars (approximately $764,000) in a crypto scam while trying to adopt a kitten online.
On Wednesday, local authorities said that the 58-year-old woman believed she was adopting a 3-month-old kitten in Thailand from an online acquaintance in April last year.
She communicated with the unidentified person, who posed as a female pet lover, over WhatsApp. 
While the kitten was supposedly free to adopt, the woman was asked to settle a delivery fee in cryptocurrency. She then complied by opening a cryptocurrency account and sending bitcoin to the scammer’s e-wallet.
Subscribe to
NextShark's Newsletter

A daily dose of Asian America's essential stories, in under 5 minutes.

Get our collection of Asian America's most essential stories to your inbox daily for free.

Unsure? Check out our Newsletter Archive.

However, the fashion executive was told that the kitten had died while being transported to Hong Kong in mid-May. 
According to police, the scammer then posed as a foreign bank employee offering her $152,400 in insurance compensation; however, she would have to pay an administration fee upfront to release the insurance funds.
The victim reportedly made 40 Bitcoin payments over the course of five months that were collectively worth around $764,000. It was only in January of this year that she realized that it was a scam when she was asked for more money.
The fashion executive has reported her case to the police.
No arrests have been made as of this writing.
“Cryptocurrency and NFTs are highly speculative virtual assets,” police said, according to Channel News Asia. “Caution must be heeded when conducting relevant transactions and investment.”
As crypto scams have surged worldwide, Hong Kong police have reportedly handled 18,660 reports of cybercrimes between January and October last year. 
In September 2022, they launched a platform to help people in the city conduct checks on suspicious email addresses, phone numbers and websites.
MOST READ
    HAPPENING NOW
      Michelle De Pacina

      Michelle De Pacina is a New York-based Reporter for NextShark

      SHARE THIS ARTICLE:

      RELATED STORIES FROM NEXTSHARK

      Support
      NextShark's
      Journalism

      Many people might not know this, but NextShark is a small media startup that runs on no outside funding or loans, and with no paywalls or subscription fees, we rely on help from our community and readers like you.

      Everything you see today is built by Asians, for Asians to help amplify our voices globally and support each other. However, we still face many difficulties in our industry because of our commitment to accessible and informational Asian news coverage.

      We hope you consider making a contribution to NextShark so we can continue to provide you quality journalism that informs, educates, and inspires the Asian community. Even a $1 contribution goes a long way. Thank you for supporting NextShark and our community.

      © 2023 NextShark, Inc. All rights reserved.