More than 3,415 crimes involving virtual assets in Hong Kong in 2023, involving up to HK $4.30 billion

Hong Kong police data show that the number of crimes involving virtual assets has risen sharply from 2,336 in 2022 to more than 3,415 in 2023, involving up to HK $4.30 billion, of which more than nine are fraud cases.
According to the analysis of the "Technology Crime Police Advisory Group" established by the Hong Kong Police Force in December 2022, virtual asset-related scams are mainly divided into two categories: the first type is that scammers will trick victims into transferring anonymous cryptocurrency to the scammer's virtual wallet for various reasons. The other type is that scammers deceive victims simply by investing in virtual assets. The group believes that in addition to strengthening public awareness of virtual assets, it is more important to ensure that virtual asset platforms are properly regulated and crack down on criminals using cryptocurrencies to defraud or launder money.