National Hong Kong Coin Launch: Crypto Scam Warning Issued

By / / Crypto News, Daily News
National Hong Kong Coin Launch: Crypto Scam Warning Issued
Table Of Contents
  1. Fake National Hong Kong Coin Emerges on Solana, Government Issues Warning
  2. National Hong Kong Coin: A Closer Look at the Scam
  3. Rising Crypto Scams Targeting Government Identities
  4. How to Avoid Falling for Crypto Scams

Fake National Hong Kong Coin Emerges on Solana, Government Issues Warning

The so-called National Hong Kong Coin has been exposed9 as a scam after fraudsters falsely claimed it was an official government-backed cryptocurrency. Authorities, including Hong Kong Legislative Council member Ng Kit Chuang, have debunked these claims, confirming that no such token has been issued by the government.

The fraudulent3 announcement, which circulated widely on social media, originated from an impersonated account of Hong Kong’s Chief Executive, John Lee Ka-chiu. Scammers used his image and fabricated statements to promote the fake token, misleading investors. The government quickly responded with a public warning, urging people to verify all crypto-related claims through official channels before making any investments.

National Hong Kong Coin: A Closer Look at the Scam

The fake X (formerly Twitter) account that spread6 the misinformation appeared highly convincing, featuring an official-looking profile and a statement that read:

“This strategic step marks a new era in digital innovation and economic growth for Hong Kong.”

This deceptive wording led many to believe that the token was a legitimate initiative backed by the city’s administration. However, authorities promptly clarified that the account was fake, and the information was entirely false.

Hong Kong’s government has urged investors to remain cautious and avoid engaging with projects that claim to have government support unless verified through official sources.

Rising Crypto Scams Targeting Government Identities

This National Hong Kong Coin scam is just one example of an increasing trend where fraudsters exploit government figures and celebrities to promote fake cryptocurrencies.

Recently, similar scams have surfaced, including:

  • Saudi Arabia Meme Coin – Scammers impersonated6 the Saudi Arabian Crown Prince, Mohammad bin Salman, using a fraudulent X account (@SaudiLawConf) to promote a fake meme coin. The Saudi Law Conference later confirmed that the account had been hacked and issued a public warning.
  • PYTH Token Scam – A crypto trader mistakenly transferred 7 million PYTH tokens (worth $3.08 million) to a fraudulent deposit address, leading to a major financial loss.
  • Libra Token Controversy – The Argentinian President, Javier Milei, allegedly endorsed a new Libra token, which skyrocketed 3,000% to an all-time high of $4.50 before collapsing, causing heavy investor losses.

How to Avoid Falling for Crypto Scams

With crypto scams becoming more frequent, it’s essential to take precautionary measures:

  • Verify Official Sources – Always cross-check announcements with governmentz websites or official social media handles.
  • Watch for Red Flags – Unrealistic promises, celebrity endorsements, or government backing claims without proof are common scam tactics.
  • Use Secure Trading Platforms – Stick to well-established crypto exchanges with strong security measures.
  • Report Suspicious Activity – If you come across a potential scam, report it to the relevant authorities.

As the crypto industry grows, so do fraudulent schemes, making it crucial0 for investors to stay vigilant, informed, and cautious.

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