Hong Kong police report 40+ crypto fraud cases in a week, losses top HK$36M
- —Over 40 investment fraud cases reported in Hong Kong in one week
- —Combined losses exceeded HK$36 million
- —A woman in her 60s lost over HK$21 million on a fake crypto platform
- —The fraudulent site showed a balance above HK$42 million, but withdrawals were blocked
Why it matters: The case highlights the risk of fake crypto platforms where displayed balances do not reflect withdrawable assets.
Source: TokenPost