🚨 **Crypto Fraud Alert in Hong Kong!** 🚨

In a dramatic turn of events, Hong Kong police have arrested three individuals suspected of defrauding a businessman out of HK$3.11 million (~$399,000) in crypto assets. The scam involved counterfeit HK$1,000 banknotes, with only the top and bottom notes being genuine. The businessman was tricked into transferring the amount in Tether’s USDT stablecoin.

🔍 **Crypto Fraud on the Rise** 🔍

Hong Kong, a major crypto hub, has seen a spike in crypto-related fraud. Authorities are ramping up their skills to combat these fraudulent activities. The Securities and Futures Commission (SFC) has also intensified its oversight, flagging 28 crypto exchanges this year alone.

Stay vigilant, crypto enthusiasts! 🌐🔒