Macau police arrest a man involved in cryptocurrency trading fraud, with the涉案金额 reaching 5 million Hong Kong dollars.

On November 10, according to Macao Radio and Television, a Macau resident and a mainland China individual claiming to be a businessman previously suffered losses from jointly investing in cryptocurrency. The two subsequently agreed to exchange 5 million Hong Kong dollars for 640,000 USDT and planned to conduct the transaction at a casino in Cotai, Macau.

Following the arrangement, the victim deposited 5 million HKD in cash into the suspect's account within the casino. However, the suspect only transferred 40,000 USDT before leaving the scene under the pretext of taking a smoke break. The remaining 600,000 USDT was never delivered as agreed.

Police investigations revealed that after receiving the payment, the suspect immediately converted the funds into casino chips and did not hold sufficient cryptocurrency to complete the trade. The suspect has since been arrested, with police believing he is suspected of committing a major fraud offense.