$495 000 USD

MARCH 2021




"Trading bitcoins in person has become popular recently, in which the buyer will clarify the acceptable currencies, banknotes and payment forms with traders beforehand, as banks are more aggressively acting against Bitcoin companies." "[T]raders who want to avoid the hassle of paying the service fee of online Bitcoin transactions choose to sell bitcoins in person." "[I]nitially investigations revealed that the transaction had been arranged through a middleman."


"23rd March 2021 – (Hong Kong) At around 1pm today, a 33-year-old male employee from a money changer and his 31-year-old colleague met with two men at another money changer at 41, King’s Road, North Point to take delivery of virtual currency Bitcoin. The two men said there was some procedure that needed to be completed and one left with the cash." "The employees, who work in a Tsim Sha Tsui money changer, took the money to buy bitcoin in a shop on King’s Road near the junction with Tsing Fung Street in Tin Hau around 1pm."


"The two waited for a long time and decided to find the guy who left but to no avail. The remaining man who was in the shop attempted to escape but one of the victims managed to stop him at the carpark of Park Towers at 1 King’s Road. The police arrived at the scene and arrested the 28-year-old man who is reportedly a construction worker."


The "[t]wo staff members from a money exchange company were conned out of HK$3.85 million (US$495,000) in a bogus bitcoin transaction in Hong Kong on Tuesday."


“The money was counted in the shop, before one of the two ‘sellers’ left the shop with the money to carry out some document procedure,” a police source said.


"After waiting for a while, the two money exchange employees grew suspicious and took the other seller to find his accomplice. The 28-year-old ran when the pair said they were going to call police."


"One of the victims was injured while pursuing the suspect and he was sent to the hospital for treatment. It is reported that the money changer involved in the case has been vacated." "The 33-year-old lost his footing and fell, injuring his right arm, during the pursuit, while his younger colleague managed to stop and subdue the suspect in the car park of Park Tower on King’s Road after a brief scuffle."


"The police are further investigating the incident." "Police later arrived on the scene and arrested one of the suspects. Officers also entered the currency exchange shop on 41 King's Road to collect evidence."


"The man who fled has short hair and he is about 20 to 30 years old, 1.75 meters tall, and was wearing a black jacket and long black pants at the time of the crime."


"The men, aged 31 and 33, managed to catch one suspect, a 28-year-old man, after a brief chase in Tin Hau, police said. A second suspect escaped with the money."


"The injured man was taken to Ruttonjee Hospital in Wan Chai for treatment, while the suspect was taken to North Point Police Station where he was being held for questioning."

Two men in Hong Kong met to purchase bitcoin. After handing over the cash, one of the sellers left with it to do some paperwork. The other seller remained until they grew suspicious. The first seller managed to get away with the money. One of the men was injured in the pursuit. It is unknown if the other seller or the funds were ever recovered.

Sources And Further Reading

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