ChainCatcher news, according to SCMP, Hong Kong police arrested four people in an operation against a criminal group suspected of using counterfeit money to defraud victims of cryptocurrency, including a 14-year-old teenager.Police stated that two of the four suspects were the masterminds, responsible for sourcing counterfeit money and locations to serve as fake cryptocurrency trading shops, as well as searching for victims online. They invited victims to the shop and showed them piles of counterfeit money to indicate that they could easily settle transactions without handing over any cash. Once the suspects gained the victims' trust, they persuaded them to conduct transactions online. Once the cryptocurrency was transferred, the suspects immediately withdrew the assets from the accounts and refused to pay.This method has been common in recent cases, and since last October until last Friday, 14 people have been arrested for defrauding 12 victims of 11 million Hong Kong dollars.