Funds from victims involved in the HOUNAX

Chane999

Hong Kong Police Commercial Crime Bureau Senior Inspector Keith Yung Kin-on stated regarding the "HOUNAX investment scam" that scammers would first contact victims using various social media platforms, claiming to be investment experts. They would invite victims to join a group, share investment information, provide stock and virtual asset investment analysis and tips. When victims expressed interest in investing, scammers would request them to download specific mobile applications, persuade victims to open accounts, and deposit capital into designated third-party accounts, followed by multiple account recharge activities. Yung Kin-on mentioned that initially, scammers would gain victims' trust by displaying apparent increases in the account's balance using meaningless numbers. However, the victims' funds were already transferred from the beginning. When victims requested withdrawals, scammers would refuse under various excuses or demand payment of 20% to 80% as redemption fees. Even if victims paid, they were unable to retrieve their money, and the so-called customer service and experts would disappear. Victims would eventually be removed from the communication group. In the cases handled by the police, all victims had not seen the scammers in person, and the receiving accounts were puppet accounts, increasing the difficulty of police investigations. The police mentioned a rising trend in investment scams in recent months, with 4,331 cases reported from January to September this year, more than double the number for the same period last year.

Kahn332

It's troublesome when the funds have been transferred away.

Janak9955

There are fools willing to trust strangers, so in this regard, they deserve it.

Jatin255

The funds have indeed been transferred away.

Shri

Let's see if they can be recovered; we'll wait and see.