Hong Kong police cracked a "suspicious stablecoin" fraud case involving 3 million Hong Kong dollars in cash and arrested three people

ChainCatcher news, according to Hong Kong Wen Wei Po, Inspector Zeng Jianhua of the Technology and Wealth Crime Unit of the Central District Police revealed the breaking of a "deceptive vault" stablecoin fraud case. A 77-year-old woman brought 3 million Hong Kong dollars in cash to a virtual currency exchange shop on Upper Lascar Row to purchase stablecoins, and was deceived by the staff using a "fake vault" to steal her money.

The Hong Kong police used the "Sharp Eye Program" footage and, after in-depth investigation and intelligence analysis, arrested three male and female fraudsters within three days of the incident. They are currently charged with obtaining property by deception and are investigating other suspects and remaining stolen funds, with the possibility of more arrests.

(Note: "Vault" is a term in Cantonese referring to a safe or strongbox. It is a security device typically used to store valuable items such as jewelry, precious metals, cash, and important documents like wills and deeds.)