Crimes related to virtual assets increase in Hong Kong

According to Foresight News, Hong Kong police data indicates a significant increase in crimes involving virtual assets. The number of such cases increased from 2,336 in 2022 to more than 3,415 in 2023, for a total of HKD 4.3 billion. More than 90% of these cases were related to fraud.

An analysis by the 'Technology Crime Advisory Group', established by the Hong Kong Police in December 2022, revealed that scams related to virtual assets mainly fall into two categories. The first category involves scammers who trick victims into transferring cryptocurrencies, known for their anonymity, to the scammers' virtual wallets. The second category involves scammers who deceive victims using investments in virtual assets as a front.

The group believes that in addition to improving public awareness of virtual assets, it is crucial to ensure proper regulation of virtual asset platforms. This is about combating criminals who exploit cryptocurrencies for fraud or money laundering.#Bitcoin #SHIB🔥🔥 #PepeCoinToTheMoon #mememcoinseason2024 $PEPE $SHIB $BTC