Crypto World News reports that, according to Sing Tao Headlines, a man in Hong Kong was scammed by a fake exchange operator while exchanging cryptocurrency outside a venue, resulting in a loss of 1.6 million USDT (approximately 14 million HKD). After receiving the report, Hong Kong police have classified the case as "obtaining property by deception" and are conducting a criminal investigation; no suspects have been arrested yet. The police remind the public that obtaining property by deception is a serious crime, with a maximum sentence of 14 years in prison upon conviction.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • 1
  • Share
Comment
Add a comment
Add a comment
ProofOfCoffee
· 46m ago
Sing Tao's headline is clickbait; the focus isn't on the coin, but on fake exchange operators. You get scammed whether you exchange for gold or not.
View OriginalReply0
MevTeaBreak
· 5h ago
Hong Kong police acted quickly, but the money probably can't be recovered. OTC still needs to go through licensed channels.
View OriginalReply0
YieldYuki
· 5h ago
It’s yet another fake “U-shang” scam—before meeting in person, they don’t verify the funds or check the licenses, and they’re honestly too trusting to be safe.
View OriginalReply0
MorningGoldAsWavesCrashAgainst
· 6h ago
Still getting tricked even after you’ve been a longtime “paperhanded” crypto degen? The first rule of OTC trading: money first, never use platform escrow—go for it.
View OriginalReply0
BridgeTroll
· 6h ago
14 million Hong Kong dollars would make me collapse directly; this guy probably can't sleep now.
View OriginalReply0
BetaTestHuman
· 6h ago
A 14-year sentence sounds intimidating, but scammers are probably enjoying their freedom overseas and can't be caught.
View OriginalReply0
WhitepaperByTheRoadside
· 6h ago
Over-the-counter trading is too deep— even an introduction from someone you know isn’t necessarily reliable. This guy said he had 1.6 million U, and then it was gone. Heartbreaking.
View OriginalReply0
  • Pinned