Even crypto OTC desks aren’t immune. Hong Kong police reported that a local virtual asset exchange company lost over HK$4 million after an employee’s WhatsApp was compromised. Scammers blocked the original work group, then created a near-perfect clone — same group name, same avatar, same members. They then impersonated a long-term client and placed a normal-looking OTC order. Staff followed the usual process and sent the crypto first. Only afterward did they realize the client’s account balance didn’t match. When they called the real client, the person said they had never placed the order. The group looked completely legitimate, so no one questioned it. In crypto, “it’s our usual process” is not a defense. Always verify large transfers through a second channel, even with people you think you know.