Gate News reports that on March 18, Hong Kong police launched Operation “Thunder Drum” targeting a cryptocurrency scam group that used low-interest loans as a pretext to collect deposits. Within two days, six people (3 men and 3 women, aged 29 to 63) were arrested across various districts in Hong Kong on suspicion of conspiracy to commit fraud. Some suspects have triad backgrounds, and the operation is ongoing.
The scam group has been operating since November 2025, calling victims randomly and impersonating bank staff to promote low-interest loans. They lure victims to sign contracts at a fake office in Central rented under a shell company and demand deposits as proof of assets. Payment methods include cash, bank transfers to dummy accounts, and cryptocurrency payments, with the latter mainly targeting older or less tech-savvy individuals.
A total of 13 victims are involved, with diverse backgrounds, some holding college or master’s degrees, including businesspeople and company owners. The total loss is approximately HKD 5 million. Police recovered multiple documents and computers at the scene.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
