Malaysia pulls Blockchain Week support; HK $3.3M romance scam

Malaysia’s Digital Economy Ministry withdrew government support for Malaysia Blockchain Week after promotional material for an after-party included influencer Siew Pui Yi, a DJ and actress who previously used adult-content platforms and left OnlyFans in 2022. Organizers apologized to the ministry and to the Malaysia Digital Economy Corporation, removed the performer from the event line-up and removed references to the after-party from the conference website. The withdrawal removes official endorsement for an event that had been planned to showcase blockchain projects and provide industry networking; organizers said the conference will proceed without government backing.

In Hong Kong police reported a cluster of romance-linked investment frauds between July 24 and July 30. Authorities received 25 reports that week alleging scammers persuaded victims to transfer funds into fraudulent cryptocurrency trading applications. In the largest case an insurance agent transferred about HK$26 million (roughly US$3.3 million) after an online contact posing as a romantic partner directed the victim to a fake trading app. Across the reports police said victims lost a combined HK$73 million.

Investigations show scammers often establish contact through dating or messaging apps, build trust over time, then promote investment opportunities. The trading platforms used in the schemes are designed to look legitimate and can show fabricated account balances and false profits to encourage additional deposits. Victims frequently learn of the fraud when they cannot withdraw funds or when contact with the fraudster ends.

The Digital Economy Ministry said organizers seeking public support must ensure promotional material meets regulator expectations. Hong Kong police advised people to treat unsolicited investment suggestions with caution, to verify a platform’s licensing and withdrawal procedures, and to avoid sending money at the request of online acquaintances. Investigations into the reported cases are ongoing.