According to the police of Western District Station, the victim earlier met a woman on Facebook who claimed to be an expert in investing in cryptocurrency and developed an online relationship with her.

The woman coaxed the victim to sign multiple investment contracts and asked him to transfer a total of HK$4.27 million to multiple bank accounts provided by her between February 6 to March 9.

However, the victim later failed to get in contact with the woman and reported the case to the police on March 10.

The case is under ongoing investigation, and no arrest has been made so far.

According to Hong Kong’s laws, anyone who obtains money by dishonest intention will be sentenced to a maximum of 10 years imprisonment if convicted.