The Hong Kong Technology Crime Police
Advisory Group has warned about the rise of digital asset-linked crime, calling for the establishment of a regulatory system to identify and eliminate risks associated with this tech. According to police data, almost $550 million was involved in digital asset crimes during 2023, with 90% of these cases involving fraud schemes.
Hong Kong Police Consultancy Group Calls to Reduce Digital Asset CrimeDigital asset-linked crime has experienced a resurgence in Hong Kong. The Hong Kong Technology Crime Police Advisory Group, a consultancy group comprised of 12 experts in the technology sector, has issued an alert about the increase in digital asset crime. According to police data, Web3-related crime grew from 2,336 cases in 2022 to more than 3,415 cases in 2023. Almost $550 million was involved in these crimes, with 90% involving fraud scams.
The team, created back in 2022, recently had its fifth meeting where it categorized these crimes into two classes. The first involves using different techniques to push victims to transfer anonymized digital assets into the criminals’ wallets. This makes itThe second kind of fraud has to do with investment scam schemes, given the popularity of cryptocurrency as an investment. These crimes involve fooling investors by promoting fraudulent digital asset-based investment schemes.The second kind of fraud has to do with investment scam schemes, given the popularity of cryptocurrency as an investment. These crimes involve fooling investors by promoting fraudulent digital asset-based investment schemes.The second kind of fraud has to do with investment scam schemes, given the popularity of cryptocurrency as an investment. These crimes involve fooling investors by promoting fraudulent digital asset-based investment schemes.The second kind of fraud has to do with investment scam schemes, given the popularity of cryptocurrency as an
