The mainland virtual currency scam has spread to Hong Kong, causing over a hundred Hong Kong residents to be deceived, with total losses amounting to approximately 3.2 million Hong Kong dollars

ChainCatcher news, according to Caixin, the virtual currency investment scam has spread to Hong Kong, with at least 118 people falling victim to the scam, resulting in a total loss of approximately 3.2 million Hong Kong dollars. On July 16, the Hong Kong police revealed that on July 15, they arrested four local Hong Kong residents on charges of "conspiracy to commit fraud." They are suspected of hosting promotional banquets for the mainland virtual currency scam, recruiting victims and collecting fraudulent funds amounting to 3.89 million Hong Kong dollars. Except for a small amount that was withdrawn, the remaining approximately 3.2 million Hong Kong dollars has yet to be recovered.

Inspector Yuen Ho-ting of the Second Team of the New Territories North Major Crime Unit introduced that since the end of June 2025, the police have received reports from citizens who suspect they have fallen into a cryptocurrency investment scam, with victims aged between 33 and 80. The police investigation found that since the beginning of 2025, several victims participated in an investment promotional banquet called "DGCX Xin Kang Jia" at a restaurant in Tai Po. The Hong Kong police investigation confirmed that DGCX Xin Kang Jia is a fraudulent trading platform, and the victims' funds were not invested in any real investments. Some of the funds were used to maintain the platform's operations, while other funds are believed to have been used to pay off withdrawals from other victims. Industry lawyers stated that since DGCX Xin Kang Jia settles in stablecoin USDT, it poses many difficulties for case investigation, fund recovery, and victims' rights protection.