Hounax Crypto Exchange Vanishes, Leaving 131 Investors in Alleged $15.4 Million Scam”

Approximately 131 investors, ranging from 19 to 78 years old, report falling victim to an alleged cryptocurrency scam orchestrated by Hounax. The Hong Kong police receive 88 complaints on Nov. 25, with an additional 15 filed with the Securities and Futures Commission (SFC) on Nov. 27. The reported losses amount to around HK$120 million ($15.4 million). Among the victims, a 69-year-old retired woman claims the largest loss, having invested HK$12 million ($1.54 million), constituting 10% of the total funds. Authorities are investigating the disappearance of Hounax and the associated financial losses.
Source: South China Morning Post (SCMP)