• Dapps: 16.23K
  • Blockchains: 78
  • Active users: 66.47M
  • 30d volume: $303.26B
  • 30d transactions: $879.24M

$50 Million Cryptocurrency Scam Uncovered in Hong Kong

by

2 hours ago

Hong Kong police arrested 27 individuals involved in a major cryptocurrency scam using fake romantic relationships and AI technology to deceive victims.

Unveiling a Major Crypto Scam

Hong Kong police uncovered a criminal group managing a $50 million cryptocurrency scam. The group used AI-generated images to create fake romantic relationships with victims from countries including Taiwan and Singapore.

Fake Investment Scam

The scammers created fake cryptocurrency investment platforms, convincing victims to invest large sums through fabricated profit statements. The operation netted over $50 million for the perpetrators.

Hong Kong Police Actions

Police arrested 27 individuals and seized numerous mobile devices and luxury items purchased with illicitly gained funds. Fraud training documents were also uncovered.

The uncovered scam highlights the need for caution and vigilance in cryptocurrency investments, given the emergence of new deception methods such as AI technology.

0

Share

Other news

Analysts Expect Bitcoin and Altcoins to Rise: Expert Insights

Analysts forecast a significant price rise for Bitcoin and altcoins due to shifting technical indicators.

9 minutes ago

Voce Sabia Launches $VS Token, Strengthening Celebrity Influence in Crypto

Brazilian content creator Voce Sabia launches $VS token on Solana, following the celebrity trend in Web3.

9 minutes ago

Hack on Ambient Finance's Website Leaves User Funds Unaffected

The Ambient Finance website was hacked but user funds remain secure.

10 minutes ago

Bitcoin and Rising Interest in Altcoins: What's Next?

Bitcoin may reach $70,000 supported by market data and predictions; increased interest in altcoins.

11 minutes ago

Injective (INJ) Price Surge to $52: Analyst's Prediction

Expert Winkle forecasts Injective (INJ) price to reach $52 amid Upbit integration.

12 minutes ago

Cardano and Solana invest in a new altcoin with growth potential

Cardano and Solana whales focus on DTX Exchange, a new altcoin with growth predictions of up to 50x.

13 minutes ago

dapp expert logo
© 2020. DappExpert. All rights reserved.
© 2020. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.