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You Won’t Believe the Twisted Web of Love, Lies and Luxury Watches That Brought Down Hong Kong’s Most Notorious Crypto Scam Empire

A dimly lit room filled with rows of computer screens displaying fake online profiles and cryptocurrency platforms. A figure in a suit sits at a desk, surrounded by luxury watches and mobile phones, while another individual is seen creating deepfake videos on a laptop. The atmosphere is one of sophistication and deceit.

Well, it looks like even triads can’t resist the allure of getting rich quick with crypto scams. A recent bust in Hong Kong has left a trail of deceit, AI-generated fake love letters, and enough luxury watches to make Elon Musk jealous. The operation involved 27 individuals, some connected to notorious triad groups, who made off with HK$360 million ($46 million) through romance scams linked to phony crypto platforms.

Source: bitcoin.com

Hong Kong police have dismantled a notorious fraud syndicate responsible for defrauding victims of HK$360 million using romance scams tied to fake cryptocurrency platforms. Arresting 27 individuals, some linked to triads, they revealed the sophisticated use of deepfake technology and digital media expertise to deceive victims across Asia. Hong Kong police said this week that they have dismantled a cross-border fraud syndicate, arresting 27 individuals linked to a scheme that […]

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