Law enforcement agencies have received multiple reports. The reporter claimed that he was suspected of being deceived and was defrauded of his cryptocurrency assets by a criminal gang disguised as a cryptocurrency exchange shop using counterfeit banknotes commonly known as "practice coupons." After investigation, the police launched a law enforcement operation code-named "Yingxue" last Friday (26th), raided multiple locations across Hong Kong, and arrested 4 people on suspicion of "conspiracy to defraud" and "possession or use of counterfeit banknotes" Chinese men (aged 14 to 39), and about 5,000 counterfeit banknotes with a face value of HK$1,000 were seized.
It is understood that the scammer pretends to be the person in charge of a cryptocurrency exchange shop and posts on social platforms to purchase cryptocurrency at a higher price than the market price. When the victim goes to trade, the clerk will display stacks of counterfeit banknotes to show off his financial resources to gain the trust of the victim. After the victim transfers the cryptocurrency to the designated wallet, the scammer will make excuses to delay the payment, or pay with a whole stack of banknotes, and prohibit the victim from opening the banknotes for inspection. The victims later realized that they had been deceived when they discovered that only the two bottom sides of the banknotes were genuine.
On the day of the operation, the police discovered that the target was withdrawing counterfeit banknotes from a mini-warehouse in Mong Kok and went to a nearby counterfeit money change shop to conduct transactions. They then launched an arrest operation and arrested two men on the spot. Subsequently, police officers searched multiple locations in various districts, including the residences of the leader and key members of the group involved, as well as mini-storages used to store counterfeit banknotes. They successfully seized the counterfeit banknotes involved and arrested the remaining two people. It is initially believed that the four arrested men are suspected of being involved in 11 similar cases between October last year and July this year, involving a total fraud of approximately HK$8.63 million.
Law enforcement authorities stated that the arrested man is believed to be related to a criminal gang involved in similar cases earlier. This gang has so far arrested 14 people, ranging in age from 14 to 42 years old. It is believed to be related to at least 12 cases, in which the victims lost a total of HK$11 million. The gang has a careful division of labor. The two male masterminds arrange counterfeit banknotes, find places to pretend to be currency exchange shops, and identify victims on social platforms. The other two key members are responsible for decorating the currency exchange shop and transporting counterfeit banknotes, and the rest pretend to be currency exchange shop employees. Make a transaction. Law enforcement will continue to pursue the case and more arrests cannot be ruled out.
Original URL:on.cc
