Man arrested over alleged HKD4.7 million cryptocurrency scam
A 43-year-old mainland Chinese man has been arrested on suspicion of defrauding another person of HKD4.68 million in a cryptocurrency transaction, Judiciary Police said. The two men met at a Cotai casino on Friday to exchange HKD5 million for 640,000 Tether tokens. The victim deposited the cash into the suspect’s casino account but received only 40,000 tokens. The suspect then left, claiming he was going out to smoke, and converted the money into casino chips before fleeing. The victim later found him at the casino and alerted police. The two had previously invested in cryptocurrency together and disagreed over how to share a HKD3 million loss.
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