A 44-year-old Taiwanese architect living in Hong Kong has fallen victim to a fraud on the Tether (USDT) platform, defrauding her of more than HK $24.5 million.

She was befriended by a fraudster posing as a male architect via WhatsApp in June last year, who claimed he was also an architect from Taiwan and an investment expert.

Female architects in Taiwan were lured into trading on a platform called Tether, making 65 transactions in eight months from June last year to January this year, and were instructed to wire more than HK $24.5 million into their bank accounts.

The woman wanted a return on her investment, but when she wanted to withdraw money, the platform asked for management fees. She felt wrong and refused to pay further, but the scammer lost contact and the scam site stopped operating.

It was only then that she finally realised she had been duped and reported the incident to Hong Kong's Tai Po Police Station on Tuesday (April 11).

At present, the case is listed as an investment fraud, and the police are investigating.