PANews reported on April 25 that a Hong Kong man was scammed when he exchanged HK$1 million for the virtual currency USDT at an unlicensed offline OTC store in Kwun Tong. The store collected the cash but did not remit the money to him.

Member of Parliament Ng Kit-chung pointed out that there are more than 200 unlicensed virtual currency exchange shops in Hong Kong. He called on citizens not to conduct transactions in unlicensed shops and urged the government to strengthen supervision.