Hong Kong police have arrested three suspects for allegedly providing a businessman with three bundles of counterfeit HK$1,000 notes to defraud him of HK$3.11 million (about $399,000) in crypto assets, a source told the South China Morning Post, Foresight News reported.

Insiders said: Except for two real bills at the top and bottom of each bundle, the rest are fake bills, called training bills.