Police said on Wednesday that they have busted a social media scam worth HK$2.8 million after more than 20 people were said to have lost money over unkept promises ranging from Macau casino tips to help in getting Lantau road permits.
Police have arrested two jobless men, after 22 people complained they were cheated out of their money.
Officers said the apparent scams involved offering bitcoin investments and tips to win at Macau casinos.
Police also said the alleged scammers also offered to help people get Lantau road permits, only to blackmail them after getting their personal information.
A police regional crime unit senior inspector, Lo Oi-kin, said one person gave handed over bitcoins valued at HK$2.5 million.
She said these apparent victims had transferred their money to these people after believing in promises of high returns made on social media.
Those who fell for the road permit promises never properly researched how they’re actually obtained before transferring the money over, the officer said.