According to ChainCatcher, citing Caixin Network, virtual currency investment fraud has spread to Hong Kong, with at least 118 people falling victim to the scam, suffering total losses of approximately 3.2 million Hong Kong dollars. On July 16, Hong Kong police revealed that on July 15, they arrested four local Hong Kong residents on charges of "conspiracy to defraud". They are suspected of hosting promotional dinners for mainland virtual currency scams, recruiting victims and collecting fraudulent funds totaling 3.89 million Hong Kong dollars. Except for a small amount of funds withdrawn, approximately 3.2 million Hong Kong dollars remain unrecovered.
Senior Inspector Yuan Haoting from the Second Team of the Criminal Investigation Unit of the New Territories North Region introduced that since the end of June 2025, the police have successively received reports from citizens suspecting they have fallen into cryptocurrency investment scams, with victims aged between 33 and 80 years old. Police investigations revealed that since the beginning of 2025, multiple victims attended investment promotional dinners named "DGCX Xinkangja" at a restaurant in Tai Po. Hong Kong police confirmed that DGCX Xinkangja is a fictitious trading platform, and victims' funds were not invested in any real investments. Some funds were used to maintain platform operations, and some funds are believed to have been used to process withdrawals for other victims. Industry lawyers stated that since DGCX Xinkangja settled transactions using USDT, this has brought numerous difficulties to case investigation, fund recovery, and victim rights protection.
