Hong Kong crypto OTC dealer loses over HK$4 million after WhatsApp work group was cloned in social engineering scam

A Hong Kong virtual currency OTC firm lost over HK$4 million (about US$514,000) after scammers hijacked an employee's WhatsApp account, per police disclosure reported by AASTOCKS. The gang locked the genuine work group, blacklisted real clients and colleagues, then cloned the group's images, names and avatars to impersonate clients and issue transfer instructions; the fraud surfaced only when fiat deduction failed. Police logged over 150 similar hijacking reports in two weeks, totaling over HK$15 million, with this case accounting for 26.67%. Police advised 2FA, avoiding phishing ads, and dual-channel verification for large transfers.

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