Hong Kong Police: HOUNAX Crypto Investment Scam Involves HKD 110 Million, 131 Reports Filed

Hong Kong Police recently discovered scammers posing as investment experts, enticing citizens to invest through a virtual asset trading platform with promises of high returns. The company involved in the scam is identified as HOUNAX. The police have received 131 reports so far, with a total amount involved exceeding HKD 110 million. Each case ranges from HKD 12,000 to HKD 4 million in losses.

Detective Superintendent Chan Wai-ki of the Commercial Crime Bureau stated that HOUNAX has been in operation since the beginning of the year. The HOUNAX website is in traditional Chinese, and the login page is pre-set with the +852 area code, indicating that the target victims are likely from Hong Kong. The website is still operational, and the platform's mobile application can still be downloaded by the public.

Most victims reported their cases this month, and the Securities and Futures Commission (SFC) added HOUNAX to the list of unlicensed companies and suspicious websites on November 1. It categorizes HOUNAX as a suspicious virtual asset trading platform and notes that it falsely claims to be in cooperation with a financial institution. (Source: RTHK Website)

Prior to this development, the official website of the Securities and Futures Commission in Hong Kong indicated that a new suspicious virtual asset trading platform, “HOUNAX,” was added to the list of unlicensed companies and suspicious websites on November 1.