Recently, the Technology and Wealth Crime Unit of the Central District Police in Hong Kong successfully cracked a fraud case involving stablecoin. In the case, a 77-year-old elderly woman fell victim to a scam at a Virtual Money exchange in Sheung Wan, suffering a loss of up to 3 million HKD.

It is reported that the victim originally intended to purchase stablecoin at the exchange, but unfortunately fell into the carefully designed trap of the scammers. The criminals used a so-called "fake vault" trick to successfully deceive the elderly person out of their cash.

The Hong Kong police acted swiftly after receiving the report, fully utilizing the advantages of the "Sharp Eye Plan". Through in-depth investigations and intelligence analysis, they identified and arrested three suspects, including both male and female, in just three days. Currently, these suspects have been temporarily charged with fraud.

The police stated that the investigation of the case is still ongoing, and they are tracking down other possible individuals involved as well as the whereabouts of the remaining stolen funds. Relevant authorities do not rule out the possibility of more suspects being arrested in the subsequent investigation.

This case reminds the public once again to remain vigilant when conducting large transactions of Virtual Money, to choose legitimate channels, and to be mindful of protecting their own property security. At the same time, it also highlights the law enforcement agencies' ability and determination to combat new types of financial crimes.