Techub News message: According to a report by Hong Kong 01, Hong Kong police have disclosed a crypto-investment fraud case in which scammers used “AI quantitative trading” as a gimmick to lure victims, and a woman was duped out of about HKD 7.7 million. The fraudsters posed as “investment experts” and proactively contacted the victim via Telegram, claiming that they could use “quantitative trading” and “AI algorithms” to achieve stable high returns. The victim, on multiple occasions, transferred about HKD 7.7 million worth of USDT and ETH from her electronic wallet to the designated addresses 17 times. When she tried to withdraw the funds, she was refused, and only then did she realize she had been scammed.

Hong Kong police remind the public that although cryptocurrencies have high-return potential, they are also accompanied by high volatility and high risk. The so-called “AI trading desk” and “quantitative guaranteed profits” are often nothing more than scam bait; the public should beware of the “impossible triangle” trap of high returns, low risk, and low entry barriers.