Hong Kong police: The victim amount of the HOUNAX investment case reaches 120 million, and may collaborate with overseas agencies for investigation

ChainCatcher news, the Hong Kong police recently exposed a major fraud case involving the virtual asset trading platform HOUNAX. According to statistics, 131 victims have reported the case, with the amount involved reaching nearly 120 million yuan. Among them, a 69-year-old retired woman was defrauded of up to 12 million yuan, becoming the largest single victim. The police pointed out that many victims had previously suffered losses in the stock market and were then attracted by the platform's falsely advertised return rate of up to 40%. The platform also falsely claimed guaranteed profits with no risks, leading investors to be easily deceived.

The Hong Kong Securities and Futures Commission has listed HOUNAX on the "unlicensed companies and suspicious websites" list earlier this month, warning that it is a suspicious virtual asset trading platform. HOUNAX fabricated a partnership with a financial institution, which in fact does not exist. Given that the involved company claims its headquarters is in Singapore, the Hong Kong police do not rule out future cooperation with overseas law enforcement agencies for investigation. Currently, the police have reported the platform's suspicious links to telecom operators to block public access and are actively organizing case materials, expecting to take arrest actions soon.