Fake Hong Kong Coin Promoted on Chief Executive’s Hacked X Account

• Hong Kong chief executive’s X account hacked to promote a fake cryptocurrency. 
• The government clarified the crypto is fake and warned traders to not fall into the trap. 

Earlier today, Hong Kong chief executive John Lee’s account was hacked to promote a fake cryptocurrency. Scammers promoted a fake cryptocurrency called “National Hong Kong Coin” impersonating John Lee. The government clarified that there is no such coin and traders must be aware of this scam. 

In the Asian morning hours, John Lee Ka-chiu, chief executive of Hong Kong posted, “I am proud to announce the upcoming launch of the National Hong Kong Coin on the Solana Blockchain.” As soon as the chief executive realized of this hack, they not only deleted the post but also deleted his X account. 

Hong Kong lawmaker Johnny Ng posted on his X account clarifying that this is a scam and there is no official Hong Kong coin. The post even mentioned that some Web3 practitioners inquired about the launch of the National Hong Kong coin. This probably brough the X account hack to the light. Johnny Ng further stated, 

“The government has made it clear that this information is absolutely false and is intended to deceive. Citizens are reminded to be cautious and not to be misled by such scams!”

The Fake HKONG Coin Market Cap Soared to $215,000 High

After the scammer promoted the fake crypto, he shared another post sharing the ticker for the coin as “HKONG.” They even shared an address for this Solana-based memecoin and launched on Solana memecoin launchpad Pump.fun. 

As per the present data on Pump.fun, the HKONG token has been dumped significantly. However, the token reached a market cap high of $215,000 earlier today. Now, it has plunged to $3,150 after the Hong Kong government issued an official notice denying the launch of the coin. 

Hong Kong SFC recently approved 10 crypto exchanges in the country as per its regulations. The country is on the frontline when it comes to placing clear regulations on the crypto industry. 

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