Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million Hong Kong dollars ($18.9 million), according to local media Shenzhen Commercial News.
On Nov. 25, local police held an initial press conference to inform the Hounax platform of the reports. The Hong Kong Securities and Futures Commission (SFC) said that as of Nov. 27, it received 18 complaints about exchange regarding amounts ranging from 12,000 HKD to 10 million HDK ($1,539– $1.2 million).