Hong Kong police have arrested four individuals, including a 14-year-old, in connection with an elaborate cryptocurrency fraud scheme that defrauded victims of up to HK$11 million (US$1.4 million). The suspects, ranging in age from 14 to 39, were detained on July 26 on charges of conspiracy to defraud and possessing counterfeit banknotes. The syndicate used fake HK$1,000 notes to trick victims into believing they were participating in legitimate cryptocurrency transactions, only to quickly move the assets out of their accounts once the transfer was completed. This operation is part of a broader crackdown on crypto-related scams in Hong Kong, with 14 individuals arrested since October of last year. Additionally, two prominent Hong Kong crypto influencers, previously linked to the troubled JPEX exchange, are currently subject to an international manhunt led by Interpol for allegations of theft, fraud, and money laundering.