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<p><strong>Key points</strong>:</p>   
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 <li><em>Thirteen investors in Hong Kong lost a total of HK$14.8 million to one Hong Kong crypto scam through fraudulent cryptocurrency exchange shops.</em></li>   
 <li><em>Scammers operating the Hong Kong crypto scam lured victims by promising better exchange rates and then trapped them after they had successful initial transactions.</em></li> 
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<h5 class="wp-block-heading"><strong>Thirteen investors lost HK$14.8M in a Hong Kong crypto scam involving fake exchange shops in Kowloon West. Police arrested two suspects; others remain at large. </strong></h5>   
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<h2 class="wp-block-heading" id="strong-kowloon-west-crypto-scam-hk-14-8-million-stolen-strong"><strong>Kowloon West Crypto Scam: HK$14.8 Million Stolen</strong></h2>   
<p><a href="https://www.scmp.com/business/cryptocurrency?module=inline&amp;pgtype=article" target="_blank" rel="noreferrer noopener">Thirteen investors in Hong Kong</a> have reported falling victim to the cryptocurrency scam that stole HK$14.8 million in the first nine months of the year. Fraudsters set up fake shops of currency exchange offering favorable rates to lure victims into conducting several transactions before trapping them.</p>   
<p>Police arrested two suspects but said they continue to search for more individuals involved in the scam. The most that was taken was HK$4 million from a businessman who was locked in the shop during his third transaction.</p>   
<p class="has-background" style="background-color:#222222"><strong>Read more:<a href="https://coincu.com/242737-revolut-paused-some-crypto-services-by-fca/" target="_blank" rel="noreferrer noopener"> </a><a href="https://coincu.com/284391-hamster-kombat-debuts-on-binance-643m-value/" data-type="link" data-id="https://coincu.com/284391-hamster-kombat-debuts-on-binance-643m-value/" target="_blank" rel="noreferrer noopener">Hong Kong Ethereum ETF Staking Could Be Approved This Year</a></strong></p>   
<h2 class="wp-block-heading" id="strong-police-arrest-two-in-hong-kong-crypto-fraud-case-strong"><strong>Police Arrest Two in Hong Kong Crypto Fraud Case</strong></h2>   
<p>Two men were arrested by police on suspicion of involvement in a HK$14.8 million cryptocurrency scam that used fake shops in Kowloon West and promised exchange rates superior to those offered elsewhere to attract victims.</p>   
<p>Victims included a 43-year-old businessman who was allegedly locked inside a shop and forced to give fraudsters HK$4 million in cash. The fraudsters escaped with the cash before police arrived. Investigations are continuing.</p>   
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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Hong Kong Crypto Scam Robs 13 Investors Of HK$14.8 Million

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