Chinese Police Arrest 12 Fake ‘Huobi Officials’

Chinese authorities have taken action against a group of alleged scammers impersonating officials from the Huobi exchange. This group was operating a website for over-the-counter (OTC) transactions.

According to reports from local media, on May 20, police apprehended 12 suspects in Guangdong province who were believed to be linked to the fraudulent scheme. An investigation revealed that these individuals had infiltrated WeChat crypto trading groups since November 2019.