Hong Kong police were called to a cryptocurrency exchange store in Mong Kok on Saturday after a woman said she had been scammed out of about HK$93,000 (US$11,970) worth of virtual currency by a man she met online.
A source said the 26-year-old woman had met a man on social media who claimed he could cash out the digital currency Tether, or USDT, to Hong Kong dollars for her.
The insider said the victim visited the store at 1pm, transferring 12,000 Tether, or about HK$93,660, to a cryptocurrency wallet.
The man told the victim to stay at the shop until his associate arrived with her money in cash, according to the source. Nobody had returned by 3.55pm, prompting her to contact the force.
Police have listed the case as obtaining property by deception. No arrests have been made.
The Mong Kok district crime division is handling the investigation.