TechFlow news, August 30 — According to the Hong Kong Wen Wei Po, Inspector Tsang Kin-wah of the Central District Police's Technology and Commercial Crime Unit disclosed the bust of a "deceptive safe" stablecoin fraud case. A 77-year-old woman brought HK$3 million in cash to a cryptocurrency exchange shop on Aberdeen Street in Sheung Wan to purchase stablecoins but was defrauded by staff using a "fake safe." The Hong Kong police, using the "Sharp Eye Project" surveillance footage combined with in-depth investigation and intelligence analysis, arrested three suspects (two men and one woman) within three days of the incident. They are currently charged with obtaining property by deception. Authorities are now tracing other suspects and the remaining proceeds of the crime, and further arrests cannot be ruled out.
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