The Hong Kong Police Force has issued a warning after 11 customers of cryptocurrency exchange Binance fell victim to text message phishing scams. The fraudsters posed as Binance and sent malicious messages to users, convincing them to click on a link to verify their identity details. Unfortunately, by doing so, the users unknowingly gave the hackers access to their Binance accounts, resulting in the theft of all their assets. The losses from this phishing scheme exceeded $446,000 in just two weeks. The police have urged users who received potentially fraudulent messages to report them on their official website. In response to the increasing crypto crimes in Hong Kong, the police force and the Securities and Futures Commission have formed a group to combat fraudulent activities carried out by virtual asset trading platforms. Additionally, the commission has mandated the licensing of all regional crypto exchanges, with only two exchanges currently holding the license. The authorities are actively investigating and making arrests in connection with recent crypto scams, including the JPEX crypto exchange fraud that saw over 2,300 victims lose over $175 million.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Asia
Countries	🇭🇰
Sentiment	neutral
Relevance Score	0
People	Chris Tang Ping-Keung
Companies	HaskKey, Hong Kong Police Force, JPEX, CyberDefender, OSL, Hong Kong Securities and Future Commission (SFC), Binance
Currencies	Bitcoin, Hong Kong Dollar
Securities	None