Home Bitcoin News Bitcoin Scam Crypto, digital belongings account for 70% of on-line funding scams in Hong Kong – Yahoo Finance

Crypto, digital belongings account for 70% of on-line funding scams in Hong Kong – Yahoo Finance

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The Hong Kong Police Pressure mentioned it acquired 1,503 on-line funding rip-off complaints over the primary 10 months of 2022, 70% of which had been associated to cryptocurrencies, public broadcaster RTHK reported on Tuesday, citing a police press launch.

See associated article: How crypto crime is costing Hong Kong billions?

Quick details

  • Among the many 1,503 on-line funding scams reported over the interval, 1,035 had been associated to cryptocurrencies, which took up 69% of the full. A single sufferer misplaced as a lot as HK$15 million in a cryptocurrency rip-off, based on the police.

  • The Hong Kong police reminded residents that customer support brokers at cryptocurrency exchanges don’t ask shoppers to switch cash to personal financial institution accounts.

  • Hong Kong has been repositioning itself as a global digital asset hub by searching for to ease cryptocurrency investing restrictions on the retail sector and drafting regulations for licensed crypto exchanges.

  • In September 2022, Hong Kong Police launched an anti-scam utility service, Scameter,  the place customers can seek for info equivalent to names and cellphone numbers associated to suspicious calls and messages.

  • In December 2022, policed arrested two top executives at a Hong-Kong-based defunct crypto exchange, AAX, on suspected involvement with a cryptocurrency fraud.

See associated article: Hong Kong financial service providers gear up for retail crypto traders

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