Hong Kong Investors Lost 50M From Crypto Scams in 2022

Cryptocurrency scams have reportedly been one of the most common cyber offenses in Hong Kong during the first half of 2022, and 25% involved digital assets. The concerning number of such fraudulent schemes could be explained by the growing interest in cryptocurrencies displayed by many Hong Kong residents. According to a South China Morning Post coverage, there have been 10,613 cyber attacks in Hong Kong between the beginning of January and the end of June this year. 798 were cryptocurrency-related fraudulent schemes – a 105% increase considering the same period in 2021.