ChainCatcher news, the Hong Kong police arrested three individuals on Tuesday involved in a virtual investment talk show ticket scam. This scam group is suspected of defrauding at least 10 residents of 5.1 million Hong Kong dollars (approximately 653,900 USD) through fake virtual investment talk show tickets.Authorities revealed that the victims were tricked into bidding for fake tickets to a virtual investment interview program, intending to resell them for profit. The scammers persuaded the victims to deposit money into a fake trading platform, promising a monthly return of 7% interest.The group started operating in November 2022 and faces charges of conspiracy to commit fraud, which could result in a sentence of up to 14 years in prison. The police confiscated five mobile phones and cash amounts of 15,000 Hong Kong dollars and 30,000 yuan (4,145 USD).

ChainCatcher news, according to the Hong Kong Radio website, the Hong Kong police recently discovered that scammers impersonated investment experts to attract citizens to invest through a virtual asset trading platform with high returns, ultimately unable to retrieve their funds. The police stated that the company involved is named HOUNAX, and they have temporarily received reports from 131 victims, with the amount involved exceeding 110 million Hong Kong dollars, and the amount defrauded in each case ranging from 12,000 to 4 million Hong Kong dollars.Police Commercial Crime Bureau Superintendent Chan Wai-ki stated that the company involved has been operating since the beginning of this year. The HOUNAX website uses traditional Chinese, and the user login page is also preset with the +852 area code, indicating that the target of the scam is likely Hong Kong residents. Its website is still operational, and the site remains valid, with citizens even able to download the mobile application of the platform.Chan Wai-ki mentioned that most victims reported the case this month. The Securities and Futures Commission has listed HOUNAX on the list of unlicensed companies and suspicious websites as of November 1, categorizing it as a suspicious virtual asset trading platform, and indicated that it falsely claims to cooperate with a financial institution.ChainCatcher previously reported that the Hong Kong Securities and Futures Commission announced a recent update, adding a suspicious virtual asset trading platform named HOUNAX.