Hong Kong Authorities Warn of New Crypto Scam
Date: 2025-03-06 Author: Oliver Abernathy Categories: IN WORLD
Authorities were alerted to a fake social media account on X that posed as the official profile of Hong Kong Chief Executive John Lee Ka-chiu. The scammers used a real photo of the politician and posted messages about the alleged upcoming launch of a Hong Kong national cryptocurrency. According to these false claims, the project, called the “Hong Kong National Coin,” was supposed to run on the Solana blockchain and be a key step towards economic prosperity for the region.
The fraudulent promotional post claimed that the cryptocurrency launch would be a “historic event” that would usher in a “new digital era” for Hong Kong residents. To make the information more believable, the authors of the fake account added details about the alleged government support for the initiative. The scammers claimed that the project would strengthen Hong Kong's position on the global financial arena and allow investors in the region to receive significant benefits.
Hong Kong authorities categorically denied this information, emphasizing that the account has nothing to do with John Lee Ka-chiu, and the project itself is an attempt by scammers to take advantage of investors' interest in cryptocurrencies. Regulators urged citizens to be careful and not to trust reports of government initiatives if they come from unverified sources.
Earlier, the Hong Kong Foreign Direct Investment Department reported that investors who own bitcoin and ether can use these assets as proof of capital when applying for an investment visa.
