The Hong Kong Police Force said it received 1,503 online investment scam complaints over the first 10 months of 2022, 70% of which were related to cryptocurrencies, public broadcaster RTHK reported on Tuesday, citing a police press release.
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Among the 1,503 online investment scams reported over the period, 1,035 were related to cryptocurrencies, which took up 69% of the total. A single victim lost as much as HK$15 million in a cryptocurrency scam, according to the police.
The Hong Kong police reminded residents that customer service agents at cryptocurrency exchanges do not ask clients to transfer money to private bank accounts.
Hong Kong has been repositioning itself as a global digital asset hub by seeking to ease cryptocurrency investing restrictions on the retail sector and drafting regulations for licensed crypto exchanges.
In September 2022, Hong Kong Police launched an anti-scam application service, Scameter, where users can search for information such as names and phone numbers related to suspicious calls and messages.
In December 2022, policed arrested two top executives at a Hong-Kong-based defunct crypto exchange, AAX, on suspected involvement with a cryptocurrency fraud.
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