According to Foresight News, a Hong Kong-based virtual investment platform called Hounax has allegedly defrauded at least 131 people. The police have received 88 reports, with the amount involved exceeding HKD 110 million. On November 23, the platform announced that 'black funds had flowed into some Hounax user accounts, causing some investors' bank accounts to be frozen,' and that withdrawals required the payment of a security deposit and verification of funds. Hounax's investment group and Facebook page disappeared on November 23.