Hong Kong’s police force reported an estimate of 148 million Hong Kong dollars (HKD) ($18.9 million) have been siphoned off from people in a crypto scam orchestrated by unauthorized trading platform Hounax. The Commercial Crime Investigation Section has stated there have been 145 reports of claims, ranging from HKD 12,000 to 10 million ($1,539 to $1.2 million), as of 27 November. This news came following last week’s press conference, which held an alert about Hounax soon after multiple reports of criminal activity gathered.
The Hong Kong Securities and Futures Commission classified Hounax as a “high-risk” crypto platform and indicates investors should be wary of the site; and unearthed that Hounax utilized false offers while interacting with visitors from Hong Kong. Press stated the exchange attempted to attain new investors on multiple social media channels through advertisements of nonexistent venture financing, such as from Sequoia Capital and IDG Capital. The police chief declared more arrests will be implemented during the course of the investigation.
The SFC has warned nine suspicious crypto platforms, including newly brought in Hounax, involving scams are ravaging Hong Kong’s crypto landscape this year. One of the timespan’s most noted escapades involves experienced exchange weapon, Hong Kong-based JPEX, which founded reports of extortion of more than 180 million and oddly gathers 66 people became attendants.
If any victims are in connect of accessing expertise or searching inferences in dealeing with the Hounax scam, the police formally declare reaching out to the Commercial Crime Investigation Section. A period filled of speculative trepidation continues since regulators and government organizations strengthen their pulpit on cryptocurrency orders in the dark metropolis.
