Mainland Cryptocurrency Scam Hits Hong Kong, Over 100 Hongkongers Scammed, Police Arrest 4

By: theblockbeats.news|2025/07/18 09:42:17

0

Share

BlockBeats News, July 18th. According to Caixin, a virtual currency investment scam from mainland China has spread to Hong Kong, with at least 118 people falling victim to the scam, resulting in a total loss of approximately 3.2 million Hong Kong dollars.

The Hong Kong police revealed that on July 15th, they arrested 4 local Hong Kong residents on charges of "conspiracy to defraud." These individuals are accused of organizing promotional events for the mainland virtual currency scam, soliciting victims, and collecting fraudulent funds amounting to 3.89 million Hong Kong dollars. While a small amount of the funds has been withdrawn, the remaining approximately 3.2 million Hong Kong dollars have not yet been recovered.

You may also like

The second half of the computing power battle: Intel CEO Pat Gelsinger reveals how AI is reshaping the global semiconductor supply chain

The second half of the computing power battle: Intel CEO Pat Gelsinger reveals how AI is reshaping the global semiconductor supply chain

Intel CEO Pat Gelsinger's latest discussion: The AI computing power battle has gone beyond the single-point competition of GPUs; the ultimate trump card is to comprehensively restructure the semiconductor supply chain and solve the systemic bottlenecks in advanced manufacturing.

WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro

WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro

WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.

Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week

Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week

Overview of Important Market Events on June 21

Kalshi's biggest competitor is not Polymarket

Kalshi's biggest competitor is not Polymarket

The competitive logic of the prediction market has changed.

WEEX Makes Affiliate Access Easier on the Web and in the App

WEEX Makes Affiliate Access Easier on the Web and in the App

WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.

Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It

Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It

Set up your WEEX Spot trading page around the way you trade. Drag supported modules, show or hide key panels, move the order panel to the left or right, and use “Reset layout” at any time to return to the default setup.

Perp DEX: The Next Generation Exchange "War"

Perp DEX: The Next Generation Exchange "War"

This "war" has just begun.

10 Counterintuitive Insights on Latin American Payments

10 Counterintuitive Insights on Latin American Payments

10 conclusions about payments that contradict mainstream beliefs: crypto cards rely on high-net-worth individuals rather than retail, QR codes are replacing cards, stablecoin profits are competing to go to zero, and Latin American regulation is actually 5 years ahead of the United States.

The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide

The AI gamble of mining companies: Valuations enter a phase of differentiation, and it's hard to turn the tide

This gamble of transforming into AI is testing the financial strength and execution capability of mining companies.

A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars

A letter from Alliance to entrepreneurs: Written on the occasion of Cursor selling for 60 billion dollars

Great companies are forged before they become obvious.

Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya

Stablecoins Finally Find Real Returns: On-Chain Reinsurance Re Explained | Interview with Re Founder Karan Saroya

This on-chain reinsurance platform absorbs stablecoins from DeFi, uses them as collateral to underwrite for American insurance companies, collects premiums, and returns the profits to on-chain depositors.

The impossible triangle is simply a pseudo problem

The impossible triangle is simply a pseudo problem

A long time ago, the cryptocurrency industry found its true purpose. But ironically, the path it built for this purpose excluded almost everyone who would actually use it.

Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?

Will MicroStrategy fall into a death spiral? What will the macro trend be in the second half of the year?

The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.

Blockchain Capital Partner: The Core Secret of Arbitrage

Blockchain Capital Partner: The Core Secret of Arbitrage

On cold starts, breaking the circle, and the toughest hurdle for founders to overcome.

STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?

STRC unanchored by 11%, can the perpetual motion machine of Strategy still operate?

Beyond the leverage crunch, what is even more concerning is the liquidity reserves of the Strategy.

Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?

Bitcoin Market Analysis 2026: Can BTC Reach $150K by Year-End?

Bitcoin price prediction 2026: Can BTC hit $150,000 by year-end? Explore Fed policy, Kevin Warsh's stance, Bitcoin ETF flows, exchange data, and BTC market forecasts.

Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?

Bitcoin ETF Outflows Hit a Record $4.4 Billion: What Are Traders Doing With Their Cash?

Bitcoin ETFs lost $4.4 billion over 13 trading days, raising questions about market sentiment and Bitcoin's bottom. Here's what Standard Chartered is watching and how traders are managing idle stablecoin balances during uncertain markets.

WEEX App Just Got Smarter – New Tabs for Faster Trades & Easy Asset Management

WEEX App Just Got Smarter – New Tabs for Faster Trades & Easy Asset Management

Discover WEEX App’s new trading tabs: Futures, TradFi, Copy Trade (users)/ Elite Trade (lead traders) on the same page. Solve messy navigation, find opportunities faster, and manage all trades in one place.

The second half of the computing power battle: Intel CEO Pat Gelsinger reveals how AI is reshaping the global semiconductor supply chain

Intel CEO Pat Gelsinger's latest discussion: The AI computing power battle has gone beyond the single-point competition of GPUs; the ultimate trump card is to comprehensively restructure the semiconductor supply chain and solve the systemic bottlenecks in advanced manufacturing.

WEEX Live mode: Monitor 20 trading pairs at once and trade like a pro

WEEX Live mode: Multi-screen desktop layout for 20 pairs, TradingView charts, one-click layout, and smart guides. Trade like a pro now.

Morning Report | Secret Network loses $4.67 million due to cross-chain vulnerability; Michael Saylor releases Bitcoin Tracker information again, may disclose increased holdings data next week

Overview of Important Market Events on June 21

Kalshi's biggest competitor is not Polymarket

The competitive logic of the prediction market has changed.

WEEX Makes Affiliate Access Easier on the Web and in the App

WEEX now provides a smoother way to access affiliate-related pages on the web and in the app. Users can find the Affiliate entry more easily and go to the right page based on their login and affiliate status.

Customize Your Spot Trading Page: Drag Modules and Move the Order Panel Where You Want It

Set up your WEEX Spot trading page around the way you trade. Drag supported modules, show or hide key panels, move the order panel to the left or right, and use “Reset layout” at any time to return to the default setup.

Popular coins

Latest Crypto News

15:43

Data: Bitcoin network activity has risen to its highest level since 2024, but the transaction volume is relatively small

According to Decrypt, CryptoQuant data shows that despite Bitcoin's price dropping nearly 50% from its historical peak, network activity continues to rise, recently reaching its highest level since the end of 2024, only 7% lower than the historical peak in September 2024. Analysis points out that th...

15:43

Bitcoin developers plan to remove explicit RBF signals to reduce on-chain fingerprints

According to CoinDesk, Bitcoin developers are discussing the removal of the explicit Replace-by-Fee (RBF) signal from the Bitcoin Core wallet. Developer rkrux stated that since full-RBF has become the standard strategy, the BIP 125 RBF signal has become redundant and may leave unnecessary wallet cha...

15:43

Data: The current whale position on the Hyperliquid platform is 4.369 billion USD, with a long-short position ratio of 0.99

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $4.369 billion, with long positions totaling $2.172 billion, accounting for 49.72% of the holdings, and short positions totaling $2.197 billion, accounting for 50.28% of the holdings. The profit and loss fo...

15:43

Dash evaluates the Philippines as a cryptocurrency payment market, compliance entry may take several years

Dash is evaluating the Philippines as a potential market for cryptocurrency payments. Daria Chernozub, the Head of Global Adoption at Dash, stated at the 2026 Philippines Blockchain Week that the project focuses on emerging markets where users face high transaction fees and need simpler payment opti...

15:43

Ethereum's new proposal requires validators to contribute up to 10% of staking rewards for ecosystem funding

According to CoinDesk, the Ethereum research forum has released a new proposal introducing the "validator redirect revenue" mechanism, allowing validators to redirect 0% to 10% of staking rewards to fund ecosystem infrastructure and public goods. If a majority of validators support a certain percent...