Hong Kong police are investigating a virtual currency fraud case involving 21.4 million Hong Kong dollars, with no arrests made so far

The Hong Kong police received a report from a victim who claimed to have been invited to invest in virtual currency through a trading platform. During this period, the victim invested approximately HKD 21.4 million in virtual currency but was unable to withdraw the funds, suspecting fraud. It is reported that the Hong Kong police have initiated an investigation by the Fifth Team of the Criminal Investigation Department of the Tseung Kwan O Police District and have classified the case as "obtaining property by deception." No arrests have been made so far. They also remind the public to be cautious of any investment projects that claim high returns and not to trust insider information disseminated on social media platforms. Before investing in virtual products, one should fully understand the characteristics of the relevant products and the associated information security risks.