More than 70 Macau residents were defrauded of HK$20 million by a mining company

On August 4, according to CoinJournal, more than 70 Macau residents were allegedly tricked into investing about HK$20 million (US$2.5 million) in e-sports and IT supplier Forger Esports. The company held a seminar in January this year and claimed to have established a cryptocurrency mining company called Forger CCMS in Hong Kong, saying that the project would generate nearly HK$200,000 (US$25,000) worth of cryptocurrency. Participants were asked to invest in the project in exchange for a fixed return.

The company stopped paying its investors the promised fixed returns in July and the owner has since gone missing, according to Macau News Agency.