In Hong Kong’s bustling crypto space, scammers masquerading as lawyers are preying on unsuspecting victims, promising to aid in crypto recovery.
Despite stern warnings from authorities like the Hong Kong Monetary Authority (HKMA), the market remains fraught with peril. These fraudulent practices involve impersonating legal professionals, offering false hope of reclaiming lost cryptocurrencies, and further exploiting individuals already victimized by previous scams.
Hong Kong Authorities Expose Fake Law Firms in Recent Crypto Recovery Attempt
Hong Kong investors are being warned about a surge in fraudulent schemes targeting victims of financial fraud, particularly in the cryptocurrency sphere. The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding three purported law firms claiming to assist in recovering losses from financial scams.
The entities in question — Dex Law Firm LLP, Morgan Bell Law Firm LLP, and Watson Liddell Law Firm — have been falsely representing themselves as cooperating with the HKMA in refunding fraud losses to the public. However, the HKMA has clarified that it has no association with these firms and does not collaborate with any law firms, locally or internationally, for such purposes.
Further investigations reveal alarming discrepancies in the operations of these fake law firms. Dex Law Firm, purportedly based in the U.S., has been fabricating its credibility by mimicking the website of another legitimate crypto-focused law firm. Despite claiming recognition from industry associations and media coverage, no evidence of their existence can be verified.
Similar tactics are employed by Morgan Bell Law Firm and Watson Liddell Law Firm, both of which are unreachable through their provided contact details. Calls and emails to these firms have gone unanswered or led to non-functioning numbers, raising suspicion about their legitimacy.
The Law Society of Hong Kong has confirmed that none of these entities are registered or recognized under the stated names, adding weight to the concerns raised by the HKMA.
