Trader Lee Has His Cash Robbed

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In January 2018, a Hong Kong man was robbed when attempting to purchase bitcoin in-person for cash. The culprits met him at a McDonald's and then claimed to get lost and asked him to meet them about 100 meters away. They then robbed him and stole his cash. Police have not been able to track down the criminals or recover any funds.

This exchange or platform is based in Hong Kong, or the incident targeted people primarily in Hong Kong.

About None

"The victim is a Bitcoin trader by the surname of Lee. The thieves contacted him via his WeChat account, and a deal was made for him to purchase a total of five bitcoins."

“He was given an offer to buy five bitcoin at a five per cent discount off the market price, but was instructed that the transaction would be conducted in cash,” the source said.

"Lee then headed to the rendezvous, which took place at a Starbucks on Hennessy Road, Wan Chai at 4:30pm." "Two men, thought to be aged between 20 and 40, met Lee in the coffee shop, but the transaction was not completed."

"The victim was told that the pair wanted to trade more bitcoin, and another meeting was arranged at a McDonald’s outlet in North Point at 9.30pm the same day." "The Post understands Lee was carrying HK$450,000 at the time." "Lee took a bag containing HK$1.4 million to the fast food outlet on King’s Road, North Point at 9.40pm but failed to find the two “sellers”."

"At about 10pm, he received a phone call from one of the men, who claimed they got lost and instructed Lee to meet them outside the State Theatre Building on King’s Road – about 100 metres away – instead."

"As Lee was heading towards his new destination, he was attacked from behind by three masked men. One of them pushed him down while the other two grabbed his bag and mobile phone. The robbers then fled the scene on foot."

“Soon after the victim left the outlet, he was attacked from behind by three masked men,” another source said. “One of them pushed him to the floor, and the others snatched his bag containing the cash and a mobile phone.”

"Police said no weapon was used in the incident." "The three robbers fled on foot and were seen turning onto North Point Road heading towards Provident Garden on Java Road. Officers scouted the area, but no arrests were made."

"Police searched the area but found nothing, but they are still looking for the five criminals (or perhaps just three) criminals who took part in the Bitcoin robbery." "Police are searching for five men, two who posed as sellers and three who attacked victim and took his bag." "As of just before noon on Friday, the five suspects were still on the run, according to police."

"According to police, the victim suffered minor hand and leg injuries. He was bandaged at the scene but did not require hospital treatment."

This exchange or platform is based in Hong Kong, or the incident targeted people primarily in Hong Kong.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Trader Lee Has His Cash Robbed

Date	Event	Description
January 18th, 2018 10:00:00 PM	Main Event	Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.

Total Amount Lost

The total amount lost has been estimated at $180,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Prevention Policies

Which policies could have prevented this event from happening?