Interpol has issued a “red notice” for two Hong Kong citizens who promoted cryptocurrency investments and sold crypto mining machines.
Wong Ching-kit, 30, faces charges of fraud and theft, while Mok Tsun-ting, 26, is wanted for allegedly dealing with property linked to proceeds of a crime, according to Interpol’s website.
The red notices were requested by the Hong Kong Police Force, local media reported on Wednesday.
Wong and Mok Were at Center of JPEX Controversy
The duo’s legal troubles date back to March 2019 when they were arrested by Hong Kong police for conspiracy to commit fraud.
They were accused of making false claims on social media and in investment seminars to sell Filecoin mining machines.
Police reports indicate that since late 2018, 18 individuals have reported losses totaling HK$2.6 million (around $333,000) due to the alleged fraud. Wong and Mok were released on bail after their initial arrests.
Wong, often referred to as the “master of crypto,” and Mok, his assistant, have been at the center of Hong Kong’s cryptocurrency controversies.
Mok was arrested last September in connection with the JPEX crypto exchange fraud, the largest cryptocurrency fraud case in Hong Kong’s history.
Although he was later released on bail, the case has seen over 70 arrests and involves losses estimated at HK$1.6 billion (around $205 million), with more than 2,600 victims coming forward.
A red notice from Interpol is a global alert to law enforcement agencies to locate and provisionally arrest an individual pending extradition or similar legal actions.
It is based on an arrest warrant or court order issued by the judicial authorities of the requesting country.
Member countries decide independently whether to act on a red notice.
Wong and Mok are not the first individuals sought by Hong Kong authorities through Interpol.
Previously, red notices were issued for six other individuals wanted by Hong Kong police.
Additionally, last year, Hong Kong’s national security police issued arrest warrants for 13 overseas activists, offering bounties of HK$1 million (around $128,000) for information leading to their arrests.
However, Interpol confirmed that no requests for a red notice had been made for these activists.
Hong Kong Pushes for Crypto Regulations
Hong Kong is actively working to establish a robust regulatory framework for the cryptocurrency industry.
Last year, the SFC initiated consultations on regulatory rules for the sector.
In March, the city-state’s Virtual Asset Service Providers licensing regime came into effect, requiring crypto exchanges to register with the regulator.
On February 29, the deadline for virtual asset trading platform (VATP) crypto license applications in Hong Kong passed, with the number of applicants reaching 24.
While Hong Kong continues to position itself as a crypto-friendly hub, the region witnessed a series of crypto exchange closures in May.
On March 28, 2024, HKVAEX, suspected to be affiliated with Binance, withdrew its license application.
Subsequently, on May 14, IBTCEX, QuanXLab, and Huobi HK followed suit, followed by Gate.HK on May 22, OKX HK on May 24, and Bybit (Spark Fintech Limited) on May 31.
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