Hong Kong Police: Number of counterfeit coins used in cryptocurrency scams surges
Hong Kong police recently stated that the number of counterfeit currency used in cryptocurrency fraud cases has surged. From January to April, a total of 3,396 fake banknotes worth about $320,000 were seized by the authorities. In three major cases related to cryptocurrency, 1,693 "training notes" and 347 low-quality fake banknotes were confiscated. These training notes are mainly used to train bank employees, similar to the HKD 1000 banknote but lacking anti-counterfeiting features and labeled with Chinese characters for "practice notes". Scammers will set up fake shops or arrange face-to-face transactions to provide cryptocurrency exchange services for cash.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
House Republicans urge SEC to revoke crypto custody rule
Celestia Foundation secures $100M capital led by Bain Capital Crypto
Altcoin Market Soars With Major Gains as Trading Volume Surges by 166%
Ethereum Bullish Surge Faces Headwinds from Foundation Sell-Offs