Macau Judiciary Police investigate suspected fraud involving a transaction worth 4680000 HKD in USDT
BIBIBI
AT A GLANCE
According to reports, in a USDT transaction in Macau, a buyer paid 5000000 HKD but received only 40000 tokens of USDT. The seller is suspected of fraud.
Article
[Macau man suspected of HKD 4680000 fraud;USDT transaction: seller goes missing after delivering only 40000 tokens]
According to TDM, a Macau man and a mainland Chinese man had previously invested in cryptocurrency together and incurred losses. They subsequently agreed to trade 5000000 HKD for 640000 tokens of USDT。November 6. After the buyer deposited 5000000 HKD into the seller's account at a casino in Macau's Cotai area, he received only 40000 tokens of USDT. The seller then left the scene under the pretext of having a cigarette, and the remaining 600000 tokens of USDT were never delivered, involving approximately 4680000 HKD. An investigation by Macau's Judiciary Police found that the suspect did not have enough USDT to complete the transaction and immediately exchanged the funds for casino chips after receiving them. He is suspected of deliberate fraud.
Key points
01
According to TDM, a Macau man and a mainland Chinese man had previously invested in cryptocurrency together and incurred losses. They subsequently agreed to trade 5000000 HKD for 640000 tokens of USDT。
02
November 6. After the buyer deposited 5000000 HKD into the seller's account at a casino in Macau's Cotai area, he received only 40000 tokens of USDT。
03
The seller left the scene under the pretext of having a cigarette, and the remaining 600000 tokens of USDT were not delivered, involving approximately 4680000 HKD.
04
The original report stated that Macau's Judiciary Police found that the suspect did not have enough USDT to complete the transaction and immediately exchanged the funds for casino chips after receiving them. He is suspected of deliberate fraud.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The transaction called for the buyer to pay and the seller to deliver USDT, but the buyer in the report received only part of the USDT after paying in full. The issue identified in the report is that the seller failed to complete delivery and is suspected of fraud; this does not establish that there was a problem with USDT itself.
Why it matters to readers
The incident highlights that paying a counterparty does not mean that all the agreed USDT has been received; the key issue in this case is the risk between payment and delivery.
Beginners should distinguish between having paid and having received all of the USDT, as well as between suspected fraud by a counterparty and a problem with USDT itself.
Risks and unknowns
The supplied material is a secondhand account and does not include the full TDM report or the police's original statement. The details cannot yet be independently verified.
The fraud remains an allegation; the original report did not provide information on any prosecution, judgment or recovery of funds.
The original report states only November 6 and does not specify the year of the incident.
The original report did not provide evidence that USDT itself had a problem or that its market price was affected.
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USDT
Cryptocurrency assets held by the example wallet mentioned in the text.
