The Hong Kong police reported a total of 20,613 various types of fraud cases in the first half of this year, involving total losses of approximately HKD 3.5 billion. Investment fraud cases accounted for 2,151, making up about one-tenth of all fraud cases, resulting in losses as high as HKD 1.66 billion. One case involving cryptocurrency resulted in losses of about HKD 84 million, where victims were lured into investing by transferring cryptocurrency into electronic wallets provided by the perpetrators, ultimately discovering they had been defrauded when they were unable to withdraw their assets. The Hong Kong police also updated the progress of the virtual asset fraud case involving JPEX, which is still under investigation, with approximately 2,800 victims and losses amounting to about HKD 1.6 billion. Since 2023, law enforcement has arrested 81 individuals, of whom 29 have been charged with conspiracy to commit fraud, money laundering, and obstruction of justice.
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