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#ETHETFS Cryptocurrency fraud happened using a fake version of Elon Musk. Hong Kong authorities found out about this scam. They closed down a fake cryptocurrency exchange that pretended to have a connection with Elon Musk using fake videos and images of him. The exchange claimed on its website that it had a direct link to Elon Musk and said he made AI tech for crypto trading. The Hong Kong Securities and Futures Commission (HKSFC) acted quickly to stop this. They warned investors and got the police to shut down the exchange's website and social media. In Hong Kong, 23 crypto exchanges wanted licenses, but HKSFC stopped taking applications in February. They told all unlicensed exchanges to stop by the end of May. Meanwhile, the Hong Kong Monetary Authority (HKMA) and the Central Bank of Hong Kong are working with companies like HSBC and HashKey to tokenize real assets.