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$156k vanishes after buyer falls for cheap laptop offer online
Jun 22, 2026
< 1 min read
by Randa Moses
for CryptoPolitan
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A Hong Kong buyer lost HK$1.23 million after making 80 separate Bitcoin ATM transfers over 30 days to a fake laptop seller. Police say the sunk cost fallacy and use of Bitcoin ATM payments enabled the fraud, highlighting crypto security risks, scam vulnerability, and the need for better consumer education and safeguards.
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A Hong Kong buyer lost HK$1.23M sending 80 transfers to a fake laptop seller over 30 days. Police blame the sunk cost fallacy and Bitcoin ATM payments.
