Bitcoin scam

Hong Kong Police Holds Suspect Involved in Bitcoin Scam

Authorities in Hong Kong have apprehended a Bitcoin scam suspect who attempted to defraud 2 people in a transaction worth $495,000. The victims of the fraud are employees of Tsim Sha Tsui currency exchange.

According to the authorities, the unsuspecting victims had tried to purchase the leading crypto asset at a shop that was being operated by two con artists who posed as Bitcoin sellers. The victims became suspicious of the “sellers” in how they were handling the transaction as one of them left with the money after it was counted to carry out some “bogus document procedure.”

Though the attendant stayed back in the shop, he attempted to run away when the victims said they were going to call the police. He was later caught but the whereabouts of his accomplice remain unknown as of press time.

While this recent case is one of the high-profile cases of Bitcoin scams in Hong Kong, there is a long list of crypto scams happening across the world. We reported the case of an Indian lecturer who lost $14,000 worth of BTC to a scammer. There have also been different cases of different hacks of Defi protocols that have resulted in loss of investors’ funds.

As the value of these crypto assets continue to soar, it is advisable for digital assets users and hodlers to become more careful of how they handle their operations and who they trust with their details.

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