The Hong Kong government has issued an urgent warning against a fraudulent cryptocurrency dubbed "National Hong Kong Coin," falsely claimed to be launched on the Solana blockchain.
The scam surfaced through a fake X (formerly Twitter) account impersonating Hong Kong Chief Executive John Lee Ka-chiu, misleading investors with a fabricated announcement about the coin’s launch.
The fraudulent post, accompanied by an image of the Chief Executive, claimed that the launch of the National Hong Kong Coin marked a new era of digital innovation and economic growth for Hong Kong. The announcement quickly gained traction online, prompting Hong Kong Legislative Council member Ng Kit Chuang to step in and clarify that the government has not issued any cryptocurrency. He urged the public to verify information through official channels and exercise extreme caution before making investment decisions.
In response to the growing concern, the Hong Kong Special Administrative Region (SAR) government released an official statement confirming that the Chief Executive’s account used in the announcement was fake and that all information about the supposed crypto launch was entirely false. Authorities continue to warn citizens about the rise of crypto scams that exploit the identities of high-profile figures and government institutions to manipulate investors.
This incident reflects a broader trend of fraudulent schemes leveraging government and celebrity impersonation to promote fake cryptocurrencies. A recent example involved scammers launching a fake meme coin under Saudi Crown Prince Mohammed bin Salman's name. The perpetrators used a hacked X account, “SaudiLawConf,” to push the so-called “Saudi Arabia Meme Coin,” prompting an official warning from the legitimate Saudi Law Conference.
As such scams become more prevalent, regulatory bodies and industry experts are emphasizing the need for vigilance, urging investors to rely only on official government statements and verified sources when evaluating crypto-related claims.
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