Hong Kong Police Sound Alarm on Surge in Fake Banknotes Linked to Crypto Fraud Schemes

Hong Kong police have issued a warning about the increase in counterfeit banknotes, which are often linked to cryptocurrency scams. In the period between January and April, authorities seized 3,396 fake notes worth HK$2.55 million (US$326,130), a significant rise from last year’s 553 notes valued at HK$166,220. Three major cryptocurrency-related fraud cases resulted in the confiscation of 1,693 fake banknotes.

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