Hong Kong Crypto Scam: Chief Executive Impersonator Account Promotes Fake Nat...
An X account impersonating Hong Kong’s Chief Executive, John Lee Ka-chiu, launched a fake national cryptocurrency on Solana’s token launchpad Pump.fun. The account promoted the token to its thousands of followers, seemingly aiming to capitalize on the recent Political memecoin frenzy. Related Reading: ‘Pieces’ Of SEC’s Crypto Framework Will Be Established This Year, Commissioner Peirce […]
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Her withdrawal requests kept getting denied. That was the moment a Hong Kong woman realized the crypto investment platform she had been using for weeks was fake — and that her money was gone. Related Reading: Ethereum Foundation Program Identifies 100 DPRK-Linked Crypto Workers Scam Built On Fake Promises The woman had made 17 separate […]
Hong Kong Chief Executive Carrie Lam says she is currently unbanked and keeps piles of cash stashed at her home courtesy of US sanctions. Alongside 14 Chinese and Hong Kong officials, Lam has been slapped with punitive measures that effectively cut her off from the banking system. The US government announced the sanctions in response to the imposition of the national security law on the Hong Kong territory. Cash Salary The US government, through the Office of Foreign Asset Control, can effectively enforce its policy objectives on non-US entities via the threat of punitive fines for defiant....
Hong Kong’s financial regulator has warned about fake tokens claiming to be associated with licensed stablecoin issuers HSBC and Anchorpoint. Both Anchorpoint & HSBC Confirm No Official Stablecoin Launch Yet The Hong Kong Monetary Authority (HKMA) has posted a notification on its website warning the public regarding certain stablecoins floating around that claim to be […]
Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
MyCoin is currently under investigation for running a Ponzi bitcoin scam, and two of its organizers were recently arrested in Taiwan. According to Taipei's Criminal Investigation Bureau, individuals Lu Kuan-wei and Chen Yun-fei were apprehended since they have held a few events for MyCoin. "Chen and Lu held several events for investors convincing each one to spend NT$1.62 million (US$49,600) for 90 BTC and an account with MyCoin's parent company, which would distribute 0.63 of a bitcoin every day for a total value of NT$11,000 (US$337). The investors were told that their investment would....