Deep Tide TechFlow news, on July 19, according to Caixin, the virtual currency investment scam from the mainland has developed into Hong Kong, with at least 118 people falling into 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scam, soliciting victims and collecting scam funds totaling 3.89 million Hong Kong dollars, with only a small amount withdrawn, while the remaining approximately 3.2 million Hong Kong dollars has not been recovered.
Inspector Yuen Ho-ting of the Second Team of the Major Crime Unit in the New Territories North introduced that since the end of June 2025, the police have received reports from citizens suspecting they have fallen into cryptocurrency investment scams, with victims aged between 33 and 80. Police investigations revealed that since the beginning of 2025, multiple victims attended an investment promotional banquet named '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 funds were used to maintain the operation of the platform, while other funds are believed to have been used to meet the withdrawal demands of other victims. Industry lawyers stated that since DGCX Xin Kang Jia settles with the stablecoin USDT, it brings many difficulties to the case investigation, fund recovery, and victims' rights protection.