Hong Kong police have arrested a group of criminals who are accused of promoting a $ 1.4 million cryptocurrency investment scam.
According to Radio Hong Kong, during the two-day operation, Hong Kong police arrested 11 men and 8 women. 9 computers, 128 smartphones, a sports car, as well as cryptocurrencies in the amount of $ 6,417 and $ 179,695 in cash were seized from the scammers.
Fraudsters lured victims into the scheme, promising them quick earnings and a luxurious lifestyle as a result of investments in cryptocurrency. According to police, about 170 people from different countries, including China and the UK, were deceived for a total of $ 1.4 million.
Chief Inspector Lester Ip Cheuk-yu of the Hong Kong Police Bureau for Cybersecurity and Technology Crimes said that due to the COVID-19 pandemic, digital currency investments have become particularly popular in Hong Kong this year, leading to growth crime in this area.
“People have started to stay at home more. This means that they spend more time on the Internet. Fraudsters have more opportunities to contact them to convince them to part with the money. This trend is observed not only in Hong Kong, but all over the world, ”he said.
Superintendent of the Technology Crime Department, Tam Wai-shun, said:
“Fraudsters are increasingly using interest in digital currencies, fake mobile apps and fake web pages to trick gullible victims.”
Hong Kong recorded 496 crypto-related crimes in the first half of 2021, according to the South China Morning Post (SCMP). Fraudulent activities resulted in the loss of $ 27.5 million.
The number of cryptocurrency-related crimes in the first six months of 2021 has already exceeded the total recorded in 2020. SCMP reports that 208 similar crimes were recorded last year, resulting in losses of about $ 14.6 million.
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