Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

After Plunging Below $1, Here is What’s Next for the Pi Network Price Rally!

May 15, 2025

Altcoin Season Incoming: Key Indicators Point to June Breakout?

May 15, 2025

Whales Continue to Load Up on Pepe as MIND of Pepe Presale Crosses $9M Mark

May 15, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Hong Kong cryptocurrency customer scammed in alleged HK$1 million ‘hell money’ scheme

0
By Aggregated - see source on May 15, 2024 Scams
Share
Facebook Twitter LinkedIn Pinterest Email
Hong Kong police have arrested three workers at a currency exchange shop after a customer was allegedly shown stacks of “hell money” before transferring about HK$1 million worth of cryptocurrency.

The force’s technology crime division on Wednesday arrested three men, aged between 31 and 34, on suspicion of obtaining property by deception and confiscated 3,000 hell banknotes, a safe and a note counting machine at a shop in Tsim Sha Tsui.

Hell banknotes are a form of ceremonial paper money that is burned as an offering to ancestors or deities in traditional Chinese culture.

Police said they received a report from a man, 35, on April 12, claiming he had been unable to retrieve cash after selling about HK$1 million worth of the digital currency Tether, or USDT, at a shop in Tsim Sha Tsui that day.

Police confiscated 3,000 hell banknotes with a face value of HK$500. Photo: Handout

An investigation subsequently found that the suspects allegedly showed the victim stacks of hell banknotes with a face value of HK$500 and persuaded him to transfer about HK$1 million worth of USDT to a cryptocurrency wallet provided by them.

After receiving the virtual currency, the suspects made multiple excuses, declined to hand over cash as agreed and abruptly left the scene.

A person convicted of fraud under Hong Kong law is liable to up to 14 years’ imprisonment, while someone charged with obtaining property by deception faces up to 10 years behind bars.

The force urged residents to choose reputable cryptocurrency exchange shops when conducting transactions and to carefully inspect banknotes for security features.

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

ZachXBT reveals Coinbase users lost another $45M in a week to ongoing social engineering scams

May 7, 2025

FBI reports $9.3 billion in US targeted crypto scams as elderly hit hardest

April 24, 2025

XRP Ledger developer kit compromised with backdoor to steal wallet private keys

April 22, 2025
Leave A Reply Cancel Reply

What's New Here!

After Plunging Below $1, Here is What’s Next for the Pi Network Price Rally!

May 15, 2025

Altcoin Season Incoming: Key Indicators Point to June Breakout?

May 15, 2025

Whales Continue to Load Up on Pepe as MIND of Pepe Presale Crosses $9M Mark

May 15, 2025

The Only 4 Coins Priced Below $5 with 2500% Potential: Time to Pivot from Ripple (XRP)

May 15, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.