Hong Kong Police Arrest Conman After He Vanished With Over $191K Belonging to...
Hong Kong police have arrested a man accused of stealing $191,085 from a cryptocurrency trader in what turned out to be a bogus transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices. No Funds Recovered Hong Kong police recently arrested a 24-year-old conman accused of vanishing with a crypto trader’s $191,085 (HK$1.5 million). The con artist now faces a possible ten-year jail term if convicted, a report has said. According to a South China Morning Post report that....
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MyCoin was one of the biggest scams to hit the shores of Hong Kong this year. The alleged bitcoin exchange based out of Hong Kong was in fact an elaborate Ponzi scheme that successfully managed to rip off over $387 million dollars in customer investments after they shut shop overnight earlier this year. Many South East Asian and Chinese investors were victims of this Ponzi scheme, which has got the police forces in multiple countries conducting their own investigations to ensure justice is served. Hong Kong was the first to counter some success in March after the cops there managed to....
When the Chinese Ponzi scheme MyCoin vanished without a trace, stealing investment money from patrons across the board, many people went to the Hong Kong police first and foremost. MyCoin stole their money, and they want it back. Also Read: Hong Kong Bitcoin Exchange MyCoin "Lost" $387 Million of Customers' Money. MyCoin was supposed to be a bitcoin exchange and gathered enough interest to claim 3,000 customers investing $128,966 each. They made sure to leave no paper trail, as often happens with bitcoin scams. When they left, citizens of Hong Kong that invested were without any recourse....
The Hong Kong Police Force has raised awareness after 11 Binance customers fell victim to text message phishing scams. According to a Facebook post by CyberDefender, under the state’s police, fraudsters posed as Binance and sent malicious messages to users. Due to the seeming authenticity of the source, the bad actors successfully fleeced users of their […]
Hong Kong’s Securities and Futures Commission (SFC) has allied with the Police to establish a group to monitor and investigate crypto exchange-related crimes. This development comes amid scandals involving the Dubai-based JPEX exchange, a leading Hong Kong crypto industry player. The SFC revealed its latest move in an October 4 announcement, noting that it formed […]
Hong Kong police have broken up a money‑laundering ring that moved 15 million through more than 550 accounts and crypto trades. Twelve suspects, aged 20 to 40, were arrested in operations across mainland China and Hong Kong. They now face charges of conspiracy to commit money laundering, Hong Kong Commercial Daily reported on May 17. Related Reading: […]