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RWA Sector Poised for $600B Growth by 2030: Report

The growing tokenized funds sector could see its value reach $600 billion in the next six years, according to a whitepaper jointly released by Boston Consulting Group (BCG), Aptos Labs, and Invesco. Currently, the tokenized assets market, representing tangible resources such as real estate, art, and traditional securities on a blockchain, boasts more than $2 […]

Hong Kong Police Bust Deepfake Romance Crypto Scam That Resulted in $46M Theft

The Hong Kong Police Force (HKPF) has dismantled a massive cross-border fraud operation that used deep fake technology to con men into phony cryptocurrency investments. The scam targeted men through fake online romances, with the victims reportedly being conned out of approximately $46 million. 27 Arrested in Raid on Fraud Center Local media reports revealed […]

Interpol Issues Red Notice for Hong Kong Crypto Promoter Linked to $384K Scam

Hong Kong native and crypto promoter Wong Ching-kit has entered the radar of the International Criminal Police Organization (Interpol) for his suspected role in several criminal cases, the latest being a cryptocurrency scam involving over HK$3 million ($384,310). According to a report from the South China Morning Post, Interpol has issued a red notice against […]

Hong Kong to Introduce Asia’s First Bitcoin Futures Inverse Product

On July 23, Hong Kong will launch Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This new exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with an opportunity to profit from declines in Bitcoin’s price. Asia’s First Bitcoin Futures Inverse […]

Businessman Scammed Out of $400K in Crypto, 3 Arrested in Hong Kong

Three individuals have been arrested by the Hong Kong police suspected of defrauding a businessman out of HK$3.11 million, worth around $399,000, in crypto assets by offering him three bundles of counterfeit HK$1,000 banknotes. The officers reportedly confiscated 10,978 fake HK$1,000 banknotes during a raid on the Mong Kok office, where the fraudulent transaction took […]

OKX Bows Out of Hong Kong, Withdraws VASP License Bid

In compliance with regulatory requirements, OKX said that it would discontinue its centralized cryptocurrency trading services for residents of Hong Kong starting May 31, 2024. OKX attributed the decision to withdraw its virtual asset service provider (VASP) license application to a “careful consideration” of its business strategy, however, the exchange did not provide further details […]

Hong Kong Police Arrest Crypto Exchange Shop Employees on Suspicion of Fraud

Hong Kong police have taken into custody three employees of a currency exchange shop who are suspected of engaging in fraudulent activities. This followed an incident where a customer at the shop reportedly encountered stacks of “hell money” before executing a cryptocurrency transfer worth approximately HK$1 million. Hong Kong Authorities Arrest 3 for Crypto Fraud […]

Digital Asset Outflows Reaches $251M for Fourth Straight Week: CoinShares

Digital asset investment products experienced outflows for the fourth consecutive week, amounting to $251 million. The past week marked the first “measurable outflows” from newly issued ETFs in the US, totaling $156 million last week. According to the latest edition of Digital Asset Fund Flows Weekly Report, the average purchase price of these ETFs since […]