ME News reports that on June 12 (UTC+8), according to local Hong Kong media, the Hong Kong Police received a report on June 5 from a man who claimed he was defrauded of 1.6 million USDT—approximately HK$14 million—during a virtual currency exchange with a fraudulent dealer. Following an initial investigation, the police classified the case as “obtaining property by deception” and handed it over to the 10th Unit of the Mong Kok District Criminal Investigation Division for further inquiry; no arrests have been made thus far. The police reminded the public that obtaining property by deception is a serious offense, punishable by up to 14 years’ imprisonment upon conviction. (Source: ChainCatcher)
Hong Kong man scammed out of 1.6 million USDT by fake crypto exchange
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Summary
A man from Hong Kong lost 1.6 million USDT (approximately 14 million HKD) after falling for a fake cryptocurrency exchange. The incident is currently under investigation by the Tsim Sha Tsui District Criminal Investigation Team, which has classified it as fraud. Crypto exchange news continues to underscore such scams as a significant risk. This case follows similar reports of exchange hacks targeting users. No arrests have been made yet.
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