Hong Kong Police Respond to Apex Capital Gold Trading Unusual Liquidation Case: Suspected Fraud, No Arrests Made Yet

TechFlow reports that on August 24, according to Caixin, the Hong Kong Police responded today to the Xingqiao Capital gold trading abnormal liquidation case, noting that the incident has received multiple reports. Affected individuals state that the total unrecovered funds amount to approximately HK$6.63 million. Following an investigation, the case has been tentatively classified as fraud and handed over to CID 3 of the Central Police District for follow-up, with no arrests made thus far. According to information obtained by affected investors involved in this case, as of 13:50 on August 24, approximately 180 people have filed police reports with the Hong Kong Police Force (having obtained police report reference numbers).

Previous report indicates that Xingqiao Capital previously encountered extreme anomalous trading conditions that triggered the collective liquidation of accounts, with some account balances dropping to zero and others even resulting in negative outstanding balances. In this incident, many investors used USDT stablecoins to deposit funds into Xingqiao Capital. While this funding method offers convenient transfers and rapid settlement, its concealed fund flows make it difficult for regulatory authorities to track following the event.