Hong Kong police arrest a suspect in a $191,085 heist from a crypto trader. This was apparently a false transaction. No funds were recovered at the time of the suspect’s arrest and investigations are ongoing to determine if the man had accomplices.
There are no funds that can be recovered
Hong Kong police recently arrested a 24-year-old conman accused of vanishing with a crypto trader’s $191,085 (HK$1.5 million). A report said that the con artist could face a ten year sentence if convicted.
According to a South China Morning Post report that details the suspect’s plan, no funds were recovered when law enforcement agents finally apprehended the 24-year-old on May 10. According to reports, the only things that were recovered from the suspect included a cellphone, necklaces and clothes he wore when the crime occurred.
Explaining how the suspect managed to vanish with the unnamed cryptocurrency trader’s funds, Hong Kong police inspector Tong Sin-tung of the Yau Tsim criminal investigation unit said:
The victim made a transfer of HK$1.5million in digital currency to a designated ewallet. It was the victim. [buyer]He claimed that he had to go to the cashier to obtain money, and he left. [the meeting room].
There are other arrests possible
The suspect could have escaped from a Tsim Sha Tsu shop by using the rear door. The suspect is said to have escaped from the Tsim Sha Tsu shop before leaving the crypto trader and her coworkers inside. The cryptocurrency trader realized that she had been tricked and called police.
According to the report, detectives still have not determined if the suspect specifically created the office in order to con the cryptocurrency trader. Tong also said the police might be investigating the possibility of accomplices. According to Tong, police do not rule out more arrests.
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