$387 000 USD





"A robbery took place on Jan. 4, according to the publication, when a man was paid for transferring 15 bitcoins to someone posing as a buyer, but then immediately had the cash stolen back from him."


"Police said the trader had chatted with the men online before agreeing to the in-person meeting to sell the men 15 bitcoin (BTC, -1.32%)."


"On January 4, a gang of robbers stole bitcoin valued at more than HK$3 million from another trader – a 37-year-old man – after he met them to make a transaction in their car. They later kicked him out of the vehicle on a hillside on Tai Tam Road in Chai Wan."


"The criminals tricked the 37-year-old man into a meeting outside a hotel in North Point on Monday, where two men arrived in a car to pick up the victim, the South China Morning Post reported on Tuesday."


"The trader was paid around HK$3 million (almost US$387,000) in cash in the car after he'd transferred the bitcoin to the two buyers, said the report, citing a police source."


"They first paid the victim with cash but took it straight back after he transferred 15 bitcoin."


"Another source said before the robbery the victim had also made deals with two of the robbers who posed as buyers."


"The man was not injured, but the cash and two mobile phones were stolen, per the report."

A man in Hong Kong was robbed of his cash after selling his 15 bitcoin. Once the sale was done, and the cash handed over, the thieves took back the cash by threatening him with knives. It is not believed that any funds were recovered from the thieves.


It is safest to transact with people you know or using trusted platforms. If performing a transaction involving a large sum, never meet alone. It is best to meet in a public place. You can also take advantage of placing the funds in an escrow wallet while any transaction is settling.


Check Our Framework For Safe Secure Exchange Platforms

Sources And Further Reading

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