Hong Kong Police: Number of counterfeit coins used in cryptocurrency scams surges

Hong Kong police recently stated that the number of counterfeit currency used in cryptocurrency fraud cases has surged. From January to April, a total of 3,396 fake banknotes worth about $320,000 were seized by the authorities. In three major cases related to cryptocurrency, 1,693 "training notes" and 347 low-quality fake banknotes were confiscated. These training notes are mainly used to train bank employees, similar to the HKD 1000 banknote but lacking anti-counterfeiting features and labeled with Chinese characters for "practice notes". Scammers will set up fake shops or arrange face-to-face transactions to provide cryptocurrency exchange services for cash.