Hong Kong police arrested four suspects, including a 14-year-old boy, for allegedly participating in a cryptocurrency scam using counterfeit banknotes, SCMP reported. The four suspects were responsible for procuring counterfeit banknotes, posing as fake cryptocurrency exchange shops, and looking for victims online. They gained the trust of victims by showing them piles of counterfeit banknotes, and then conducted online transactions and quickly transferred cryptocurrencies. Chief Inspector of the Commercial Crime Bureau, Lo Yuen-shan, revealed that since October last year, 14 people have been arrested for similar cases, involving losses of HK$11 million.