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Mainland Cryptocurrency Scam Spreads to Hong Kong, Over 100 Hong Kong Residents Scammed, 4 Arrested by Police

Summary: According to Caixin, a mainland cryptocurrency investment scam has spread to Hong Kong, with at least 118 people falling victim to the scheme, resulting in a total loss of approximately 3.2 million Hong Kong dollars. The Hong Kong police revealed that on July 15, they arrested 4 local Hong Kong residents on charges of conspiracy ...

According to Caixin, a mainland cryptocurrency investment scam has spread to Hong Kong, with at least 118 people falling victim to the scheme, resulting in a total loss of approximately 3.2 million Hong Kong dollars.

The Hong Kong police revealed that on July 15, they arrested 4 local Hong Kong residents on charges of conspiracy to commit fraud. These individuals are suspected of organizing promotional events for the mainland cryptocurrency scam, soliciting victims, and collecting fraudulent funds totaling 3.89 million Hong Kong dollars. While a small amount of funds has been withdrawn, the remaining approximately 3.2 million Hong Kong dollars have not yet been recovered.

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