Hong Kong man loses nearly HK$18M in crypto scam that started with a YouTube ad

Hong Kong police say a man in his 70s lost nearly HK$18 million to a fake investment group he found through a YouTube advertisement, sending USDT and ETH to scammer wallets between August and October 2026. Police recorded more than 40 similar online investment scams in a single week, with combined losses of nearly HK$50 million.