Fraudsters stole $50 million in crypto from Hong Kong investors

by in Cryptocurrency News

Hong Kong

Since January 2022, the scale of cryptocurrency fraud in Hong Kong has increased significantly. Law enforcement agencies systematically urge residents of the metropolis not to invest in dubious projects that are related to the cryptosphere.

In the first half of the year, the damage from the activities of fraudsters in Hong Kong increased by 105% compared to the same period last year.

According to the South China Morning Post, up to $50 million worth of digital currencies has become the prey of cybercriminals.

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In January-June 2021, criminals stole digital assets worth up to $21 million from Hong Kong residents, the researchers emphasized.

As a rule, the attacker uses social networks through which they promote various projects. Investors agree to send funds to scammers, who disappear after receiving the tokens.