Bitcoin (BTC) is one of the most trending financial assets in the crypto market because of its day by day rising price. This scenario has aroused greed in the cons and scammers who are already looking for a weak point to hit the blockchain and to get financial assets under their control. It is highly advisable to be vigilant to be on the safe side. It was reported that two scammers were involved in stealing around $500,000 by pretending Bitcoin (BTC) sellers in Hong Kong.

South China Morning posted the news of a Bitcoin scam of $500,000 in Hong Kong on the 23rd of March, 2021. As per the report’s statement, two scammers rolled out $500,000 from the citizens who were intended to buy Bitcoin in return for cash, but instead of that, they were deceived by the cons artists of which one flew away with the whole cash.

On investigating, it occurred that those two victims work in a money exchange platform where they made their mind to invest in Bitcoin (BTC) and to earn reasonable profits. So, they managed the cash to buy the Bitcoin (BTC) in trade of $495,650, and they went to an outlet in Tin Hau, Hong Kong. Victims stated that they had no idea that it could lead them to face such an incident until, on reaching the outlet, they met with two traders who claimed to be professional Bitcoin (BTC) seller, but they did not disclose their identity.

One of them collected the cash and left the shop, mentioning that he is going to deposit money and to bring some official documents of trading terms and other formalities required for the crypto transaction. Police investigated the whole operation by different aspects and shared different opinions, and confirmed that before the one con artist left with the cash, he counted the cash in the shop and later on left the shop with the deception of carrying out official and required documentation to proceed the crypto transaction.

Time went by, and the victims kept waiting in the shop, but that scammer did not come, on which buyers got suspicious. Meanwhile, the second con artist also tried to escape, but the buyers grabbed him and threatened him to call out for the police. The case was reported, and after a blunt chase, the scammer was under arrest by law enforcement. Although one con artist is in custody, the other one who left with the money is still roaming outside.

This type of activities had been happening in Hong Kong and reported as well. As crypto trading is flourishing day by day, Bitcoin (BTC) and other digital currencies are gaining more fame and popularity by maximizing the traders’ profit ratio in crypto trading. In just Hong Kong, many cases have been reported regarding cryptocurrency scamming.