Over-the-counter U exchange really requires caution; fake exchange vendors' tricks are too deep. Spending 14 million to learn a lesson is too painful.

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.