Hong Kong police: The number of counterfeit coins used in cryptocurrency fraud cases has surged

ChainCatcher news, the Hong Kong police recently stated that they have discovered a surge in the number of counterfeit bills used in cryptocurrency fraud cases. From January to April, authorities seized a total of 3,396 counterfeit notes, valued at approximately $320,000.

In three major cryptocurrency-related cases, a total of 1,693 "training notes" and 347 low-quality counterfeit bills were confiscated. These training notes are primarily used to train bank staff and resemble Hong Kong $1,000 banknotes but lack anti-counterfeiting features, marked with the Chinese characters "培训钞".

Fraudsters set up fake stores or arrange face-to-face transactions, offering services to exchange cryptocurrency for cash, using these counterfeit bills to deceive victims.