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

Kitten and broken bitcoin logo

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 used WhatsApp to speak with the unnamed individual, who pretended to be a female pet lover.

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.

The fashion executive, on the other hand, was informed that the kitten died while being shipped to Hong Kong in mid-May.

According to authorities, the fraudster then pretended to be a foreign bank employee and offered her $152,400 in insurance coverage. But she would have to pay an administration charge ahead in order for the insurance monies to be released.

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 filed a police report about her situation.

No arrests have been made as of this writing.

“Cryptocurrency and NFTs are extremely speculative virtual assets,” according to authorities, as reported by Channel News Asia.
“When executing related transactions and investments, caution must be exercised.”

As crypto scams have grown in popularity throughout the world, Hong Kong police have allegedly handled 18,660 cybercrime cases between January and October of 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.