March 10, 2025<\/p>\n\n\n\n
By Anjali Kochhar<\/p>\n\n\n\n
The Hong Kong Special Administrative Region (SAR) government has issued a warning to investors about a fraudulent cryptocurrency called “National Hong Kong Coin.” This comes after an imposter social media account, posing as Chief Executive John Lee Ka-chiu, falsely announced the coin’s launch on the Solana blockchain.<\/p>\n\n\n\n
The fake account, using Lee\u2019s name and photograph, posted a misleading message claiming that the launch of “National Hong Kong Coin” marked a significant step for the city’s digital economy. The SAR government swiftly responded, clarifying that neither the Chief Executive nor any official body had introduced such a cryptocurrency. Authorities condemned the spread of misinformation and reported the case to the police for investigation.<\/p>\n\n\n\n
Authorities Take Action Against Crypto Scams<\/strong><\/strong><\/p>\n\n\n\n This incident highlights an ongoing challenge where cybercriminals impersonate prominent figures to promote fraudulent investment schemes. In recent years, similar scams have been observed worldwide, with scammers using fake endorsements from well-known personalities to gain investors’ trust.<\/p>\n\n\n\n The Hong Kong Monetary Authority (HKMA) has previously cautioned against misleading crypto-related promotions. Last year, the regulator warned that some firms falsely labeled themselves as “crypto banks” or “digital asset banks,” creating confusion among the public. Additionally, the Securities and Futures Commission (SFC) has flagged several suspicious virtual asset projects, such as “HongKongDAO” and “BitCuped,” which falsely claimed regulatory approval to lure investors.<\/p>\n\n\n\n Public Urged to Stay Vigilant<\/strong><\/strong><\/p>\n\n\n\n In response to the rising number of fraudulent schemes, Hong Kong authorities are urging the public to exercise caution. Investors should verify any cryptocurrency-related information through official government channels and remain skeptical of investment opportunities that promise high returns with little risk.<\/p>\n\n\n\n Regulators continue to monitor the digital asset market and take action against deceptive practices. The SAR government reassures the public of its commitment to protecting investors and maintaining trust in the financial system. Anyone encountering suspicious investment schemes is encouraged to report them to the authorities.<\/p>\n\n\n\n About the author<\/strong><\/strong><\/p>\n\n\n\n Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" March 10, 2025 By Anjali Kochhar The Hong Kong Special Administrative Region (SAR) government has issued a warning to investors about a fraudulent cryptocurrency called “National Hong Kong Coin.” This comes after an imposter social media account, posing as Chief Executive John Lee Ka-chiu, falsely announced the coin’s launch on the Solana blockchain. The fake […]<\/p>\n","protected":false},"author":4,"featured_media":7355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7352","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uncategorized"},"yoast_head":"\n