In a disturbing incident, a cryptocurrency scam has surfaced in Hong Kong's Tai Kok Tsui area, raising concerns about the safety of over-the-counter (OTC) exchanges in the region. On October 26th, at approximately 4 PM (UTC+8), a woman approached the police with a troubling report regarding an OTC cryptocurrency exchange she visited earlier that day.
At around 1 PM, she went to the exchange situated at 55 Tai Kok Tsui Road, intending to convert her Tether (USDT) into cash. Upon arriving, she transferred her USDT to a male employee through an online wallet, only to be instructed to wait for a colleague who would bring her the cash. However, the situation took a turn for the worse when the employee left the premises under false pretenses, leaving the woman waiting in vain.
After an extensive wait with no sign of a cash delivery, she decided to call the police to report the incident. Authorities have classified the case as 'fraud,' and as of now, no arrests have been made. The woman suffered a significant loss, totaling 12,000 USDT, which amounts to roughly HKD 93,000.
She expressed her shock, noting that her decision to trust the exchange stemmed from her following it on Instagram since August. The exchange had seemed credible, showcasing customer transactions that supposedly validated its legitimacy. This unfortunate event serves as a stark reminder of the risks associated with cryptocurrency dealings and highlights the necessity for enhanced vigilance among investors..