⚠️Hong Kong Reemerges as a Hotspot for Cryptocurrency Robberies: Over Three Years of Cases, OTC Transactions as High-Risk Scenarios

On March 8, Hong Kong once again saw a violent incident involving cryptocurrency assets.
According to local media reports:
In the early hours of March 7, 2026
A 25-year-old man from Mainland China was attacked and illegally confined by three men and one woman at a hotel in Hung Hom. He was forced to give up his electronic wallet password, resulting in approximately HKD 5.3 million worth of cryptocurrency being transferred out. Additionally, 42 kilograms of silver were stolen, with total losses around HKD 6.1 million. The police are investigating the case as "extortion and illegal confinement."
Over the past three years, Hong Kong has experienced multiple robbery cases involving virtual assets or OTC transactions:
⭐① 2026-03-07
📍Hung Hom
💰Approximately HKD 6.1 million
• Victim: 25-year-old man from Mainland China
• Location: Hotel on Tak Fung Street, Hung Hom
• Details:
• Attacked and illegally confined by 3 men and 1 woman
• Forced to surrender electronic wallet password
• HKD 5.3 million in cryptocurrency transferred out
• Also robbed of HKD 800,000 worth of silver
Police classify this as a case of extortion + illegal confinement.
② 2025-12-18
📍Sheung Wan
💰Approximately HKD 50 million
• Two Japanese company employees
• Preparing for cryptocurrency-related exchange at a currency exchange shop
• Immediately after leaving the shop, they were robbed at knifepoint
• Thieves stole 1 billion Japanese Yen in cash
Police later detained 15 people.
③ 2025-03-13
📍Lai Chi Kok
💰Approximately HKD 318,000
• Man selling cryptocurrency
• Attacked and beaten by multiple people after an offline transaction
• Cash was stolen
A typical OTC transaction robbery pattern
④ 2024-09-25
📍Sham Shui Po
💰Approximately HKD 4 million
• Man brought cash to a virtual currency exchange shop
• Locked inside and robbed after entering
• Police subsequently arrested two individuals
Almost all of these cases share the same characteristic:
Offline OTC transactions.
The routine is generally the same:
Fake transaction → Meeting → Gang attack → Forced transfer
In the Web3 world,
Hackers are not necessarily the biggest risk.
The real world is.