Read

Send

<div class="protos">
 <div>
  <div>
   <div>
    <p>The rate of <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="crime" href="https://thebittimes.com/tag/crime.html">crime</a> in <a rel="noopener noreferrer nofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a> has reportedly tripled over the past three years, with documented <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="cases" href="https://thebittimes.com/tag/cases.html">cases</a> in 2023 involving almost 4.4 billion yuan (roughly $611 million), local outlets report.&nbsp;</p>
    <p>Hong Kong’s Financial Services and Treasury Minister Hui Ching-yu reportedly revealed that the city’s Securities and Futures Commission (SFC) recorded 1,397 and 2,336 cases of crypto crime in 2021 and 2022 respectively. This figure rose to 3,415 in 2023.</p>
    <p>According to Hui, the SFC reportedly listed 14 crypto exchanges on its ‘List of Suspected Virtual Asset Trading Platforms’ as of February 14.&nbsp;</p>
    <p>The South China Morning Post (SCMP) also reported that 5,105 cases of online investment fraud were handled by the police last year, <strong>a 170% jump in cases from the previous year</strong>.&nbsp;</p>
    <figure class="wp-block-embed is-type-wp-embed is-provider-protos wp-block-embed-protos">
     <div class="wp-block-embed__wrapper">
      <blockquote class="wp-embedded-content" data-secret="IsK6DGMoLr">
       Hong Kong bans two more crypto sites for misleading investors
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Hong Kong bans two more crypto sites for misleading investors” — Protos" src="https://protos.com/hong-kong-sfc-bans-two-more-crypto-sites-for-misleading-investors/embed/#?secret=ecqd7rmgiD#?secret=IsK6DGMoLr" data-secret="IsK6DGMoLr" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
     </div>
    </figure>
    <p><em>Read more: Police probe HK crypto exchange after users lose $15M to scams</em></p>
    <p>The same outlet has also reported that a financial manager in <a rel="noopener noreferrer nofollow" title="Hong Kong" href="https://thebittimes.com/tag/hong-kong.html">Hong Kong</a> lost <strong>HK$17.8 million (US$2,173,500)</strong> through investing in bogus <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> and gold on a scam trading site.&nbsp;</p>
    <p>The 57-year-old woman was baited with false profits to make further trades that she would ultimately never be able to withdraw. She was coaxed into sending money to various crypto wallets owned by the scammer under the guise that she was helping finance a legal case.&nbsp;</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
   </div>
  </div>
 </div>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hong-kong-crypto-crime-triples-police-handling-170-more-cases-tbt80420.html">https://thebittimes.com/hong-kong-crypto-crime-triples-police-handling-170-more-cases-tbt80420.html</a></p>

Hong Kong crypto crime triples, police handling 170% more cases

TheBitTimes

Other articles published on Feb 21, 2024

The ICP Whale Moves Big into DeeStream as ETH Traders Follow Suit for Big Gains

HTX Applies to Secure VATP License for Local Branch in Hong Kong

Hedera Price Prediction: Is HBAR On Fumes Or Keep On Thrusting?

Hong Kong sees surge in crypto license applications

Circle to cease minting USDC on Tron network effective immediately

Litecoin Price Analysis: A Closer Look at Market Trends

Join our free newsletter for daily crypto updates!