Fraud

Hong Kong

2026-10-04 02:35:35

Hong Kong woman, 60, loses about HK$21.5 million in alleged crypto investment scam

A 60-year-old woman in Hong Kong has reported a suspected cryptocurrency investment scam after being lured into transferring about HK$21.5 million to designated accounts, according to an Odaily newsflash citing HK01 NFT. The woman said she had earlier met a fraudster on an online platform who claimed to be an investment expert. She was then guided to invest in cryptocurrency through a fake website. The reported transfers were made repeatedly between April 14 and September 22, totaling about HK$21.5 million. After the funds were sent, the platform allegedly asked her to pay a security deposit, claiming it was needed to prove that the investment account had not been used for money laundering. Police have initially classified the case as obtaining property by deception. The fourth team of the Sau Mau Ping police district criminal investigation unit is handling the case. No arrests have been made so far.

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SEC

2026-09-30 19:14:45

SEC sues Meyer Global Management and CEO over alleged fraud tied to SpaceX and other pre-IPO investments

The U.S. Securities and Exchange Commission has filed charges against private fund adviser Meyer Global Management LLC and its chief executive officer, Owen E.H. Meyer, over alleged misconduct involving investments linked to SpaceX and other pre-IPO securities. According to an SEC press release cited by Techub, the regulator said the firm and its CEO defrauded both investors and funds managed by Meyer Global. The SEC said the case centers on two private funds focused on pre-IPO investments that were marketed to retail investors. In its complaint, the agency alleges that Meyer Global and Meyer made false statements in connection with the offering and operation of those funds. The regulator also accused them of failing to disclose conflicts of interest and of misappropriating fund assets. The filing adds to regulatory scrutiny around private-market investment products marketed beyond traditional institutional channels, though the details released in the source material are limited to the SEC’s stated allegations.

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Hong Kong Pol

2026-09-29 14:23:25

Mainland China and Hong Kong police bust cross-border underground banking ring tied to crypto transfers

Mainland Chinese public security authorities and Hong Kong police have dismantled a cross-border underground banking syndicate that allegedly used several channels, including virtual currency transactions, to move funds illegally. More than 170 suspects were arrested in the joint operation, according to a Techub News brief citing Wu Blockchain. Authorities said the group built illicit cross-border transfer routes through offshore and onshore matching arrangements, fake trade activity, cash and gold smuggling, and crypto trading. Police said those channels were used to provide cross-border fund transfer services for crimes involving gambling and fraud. During the operation, mainland authorities froze more than 15 million yuan in funds linked to the case. Hong Kong police separately seized assets worth about HK$170 million. The report did not disclose additional details on the specific cryptocurrencies involved or the time span of the alleged activity.

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Canada

2026-09-28 23:15:37

Canada’s self-styled ‘Crypto King’ Aiden Pleterski to stand trial on Oct. 5 over alleged $30 million fraud

Aiden Pleterski, the Canadian figure who called himself the “Crypto King,” is scheduled to face criminal trial on Oct. 5 in the Ontario Superior Court of Justice and is expected to represent himself in court. Authorities allege that between 2021 and 2022, Pleterski raised about $30 million from investors by claiming he could deliver high weekly returns. Canadian authorities filed charges in May 2024 tied to fraud and money laundering. According to the report, a conviction on the fraud count could carry a maximum sentence of 14 years in prison for a single offense. The case places Pleterski back in court as prosecutors pursue criminal allegations linked to his crypto-related fundraising activities.

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Danshuigun

2026-09-26 06:35:50

Taichung hotpot chain owners wanted after disappearing in alleged fundraising case

The owners of Taichung-based hotpot chain Danshuigun have been out of contact for more than 100 days after leaving Taiwan in late May, with prosecutors now seeking four people in an alleged illegal fundraising case. Taichung prosecutors said on July 15 they issued warrants for husband and wife Huang Qunrui and Hong Yiying, along with their daughter and a Chen-surnamed accountant, and revoked their passports. The case is being investigated on suspicion of illegal fundraising, fraud, and violations of Taiwan’s Banking Act. Local reports have widely cited estimates of nearly 500 victims and losses that could reach NT$5 billion, though authorities have not confirmed those figures and say the actual amount still needs to be verified. Rumors have also circulated that the family moved from China to Southeast Asia, but police have not confirmed that claim. The group’s businesses have shut down, including the Danshuigun hotpot chain, a travel agency, an investigation company, and an arts business. The case surfaced on June 2 after investors who said they had not received promised interest payments went to the restaurant. According to local reporting, some investors were offered a plan of NT$300,000 with monthly interest of NT$7,500, equivalent to 2.5% a month or 30% a year.

210

Polymarket

2026-09-21 10:12:33

WSJ Says Polymarket Relaxed an Anti-Money-Laundering Control During a $10 Million Stolen-Card Attack

A Wall Street Journal investigation says fraudsters tried to steal about $10 million through Polymarket U.S. starting in February by using stolen debit cards to fund accounts, place bets, and withdraw proceeds to accounts they controlled. The report says Checkout.com flagged the activity and at one point rejected more than 80% of Polymarket U.S. deposits it processed as fraudulent, far above an industry norm near 1%. According to the Journal, Polymarket leadership later removed a rule requiring funds deposited from one payment source to be withdrawn back to that same source, despite employee warnings that the change created money-laundering risk. The CFTC is now investigating the company over the fraud episode, while a separate registration flaw in late July reportedly exposed about 500 accounts to takeover using only a victim’s Social Security number. The report also details compliance departures, a leadership shake-up, and Polymarket’s ongoing fundraising at a reported $21 billion valuation.

400

X

2026-09-21 09:37:19

X sues two UK users over alleged $277,000 creator revenue fraud tied to crypto accounts

Social media platform X has sued two users in the United Kingdom, accusing them of manipulating multiple crypto-related accounts to improperly collect about $277,000 from the company’s creator revenue-sharing program. According to the lawsuit, the two defendants used fake engagement and manipulated metrics to obtain payments that should have gone to legitimate creators. X said the conduct harmed the fairness of its creator ecosystem and that it has taken legal action to recover the losses. Reported by The Block and cited by Techub News, the case points to the difficulties large platforms face when running creator monetization systems, especially where payout models depend on account activity and engagement data. The dispute centers on alleged abuse of platform mechanisms rather than a product change or policy update, but it still carries regulatory and compliance relevance because it involves fraud claims, platform enforcement, and the integrity of creator payment programs.

320

X

2026-09-21 09:35:25

X sues operators of Bitcoin-focused accounts over alleged creator payout fraud

X has filed a lawsuit in the High Court of England and Wales against Vivek Kumar Sen, Zamyang Sherpa and unidentified account operators, accusing them of using a network of Bitcoin-focused profiles to manipulate engagement and collect creator payouts. The platform says the defendants fraudulently obtained at least 207,384 British pounds, or about $278,000, through X’s former creator revenue-sharing program. According to the filing, the alleged scheme relied on coordinated reposts, likes, replies and near-identical posts across multiple accounts to create what X described as a false impression of genuine human interaction. The company said it suspended the accounts on Aug. 18 for creator revenue-sharing fraud and platform manipulation. The lawsuit names six accounts enrolled in the program and links their associated Stripe accounts to Sen and Sherpa. X also identified three additional accounts that allegedly helped amplify the network’s posts. Beyond the disputed payouts, X said it expects at least 75,000 British pounds in investigation and remediation costs, bringing claimed and projected losses to at least 282,384 pounds before interest and legal fees.

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