Hong Kong Police: The HOUNAX virtual investment scam has been reported by 131 people, involving HK$110 million
Hong Kong police recently discovered that scammers were posing as investment experts and using high returns to attract citizens to invest in a virtual asset trading platform, ultimately unable to retrieve their funds. The police stated that the company involved is called HOUNAX and they have received 131 reports from victims, involving over HKD 110 million. Each case involves a scam amount ranging from HKD 12,000 to HKD 4 million.
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