Hong Kong resident loses HK$13M in fake crypto app scam
- —The victim's losses exceeded HK$13 million ($1.67 million)
- —The purchased USDT and ETH were transferred to the scammer's wallets
- —Hong Kong police recorded 40+ scam reports with HK$50 million in losses
- —FinCEN linked $12.7 billion in suspicious activity to crypto scams
Why it matters: The rise in crypto scams using fake apps increases pressure on regulators and on the reputation of stablecoins such as USDT.
Source: crypto.news