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Be careful, digital asset crime is increasing drastically

Liputan6.com, Jakarta – Crimes related to digital assets have increased again in Hong Kong. The Hong Kong Technology Crime Police Advisory Group, a consultancy group consisting of 12 experts in the technology sector, has issued a warning about an increase in digital asset crime.

According to police data, Web3-related crimes increased from 2,336 cases in 2022 to more than 3,415 cases in 2023. Nearly USD 550 million or the equivalent of IDR 8.9 trillion (assuming an exchange rate of IDR 16,260 per US dollar) was involved in these crimes, with 90% related to fraud.

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The team, created in 2022, recently held its fifth meeting in which it categorized these crimes into two classes. The first class involves using different techniques to encourage victims to transfer anonymous digital assets to criminals' wallets.

“This makes it difficult for authorities to trace the identity of the user behind the wallet due to the characteristics of this type of crypto asset,” said the group, quoted from Bitcoin.com, Thursday (6/6/2024).

The second type of fraud relates to investment fraud schemes, given the popularity of cryptocurrencies as an investment. This crime involves duping investors by promoting fake digital asset-based investment schemes.

This situation causes people to associate the terms “blockchain” and “Web3” with these crimes, thereby creating a stigma that even links legal industries with illegal schemes.

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The group suggested that, to combat this perception, public awareness should be increased regarding digital asset issues.

Additionally, the group calls for establishing a regulatory system capable of identifying and mitigating risks related to criminals exploiting digital assets, as well as fostering a climate that allows the development of the blockchain and Web3 industries in a legal and compliant manner.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. Liputan6.com is not responsible for profits and losses arising from investment decisions.

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Be careful, digital asset crime is increasing drastically

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