According to hk01, the Hong Kong police successfully cracked down on a criminal group that used physical cryptocurrency exchange shops to commit fraud, involving a total amount of HK$12 million. This is one of the important results of the Western District Police District's code-named "Stinging Wind" anti-fraud operation. It is reported that the criminal group opened physical cryptocurrency exchange shops in Wan Chai and Tsim Sha Tsui, using "favorable exchange rates" as bait to attract customers. Police investigations found that criminals invested more than HK$100,000 in rent to open a store in Wan Chai, defrauding three victims of a total of HK$5 million. What is even more shocking is that the same group had already carried out similar fraud in Tsim Sha Tsui as early as March this year, involving 6 victims and defrauding HK$7 million. A senior inspector of the first team of the Western District Police District Serious Crime Unit said that the fraud shop in Wan Chai started operating in June this year and lasted for about one and a half months. The criminal group communicated with potential victims through Facebook and WhatsApp, claiming that large-amount exchanges would enjoy more discounts. After the victims arrived at the store, the fraudsters induced them to transfer a large amount of cryptocurrency or Hong Kong dollars to a designated e-wallet or puppet bank account, or directly hand over cash to the store clerk, who then left with the money on the pretext of an excuse. The police have arrested six local men in connection with the case, four of whom have triad backgrounds. Those arrested are all core members of the criminal group, including the mastermind, exchange shop staff, members responsible for carrying cash and receiving, and puppet account holders.