HK Octogenarian Loses HK$5M+ to Fake Crypto App Scam

This case matters less as a crypto story than as a consumer-protection one: the loss came through a counterfeit app surfaced by an online ad, not through any flaw in the underlying asset, and the victim was guided by people posing as support. It shows that as retail crypto access spreads, the weakest link is often app discovery and impersonated customer service, with elderly users disproportionately exposed. Whether platforms and app stores tighten ad vetting and wallet verification is the open question, and family-level awareness remains the practical front line.