The Hong Kong police launched a new Web3 platform known as “CyberDefender Metaverse” on Saturday.
To celebrate the launch, the force hosted its first event “Exploring the Metaverse” in the virtual space.
Cracking Down on Crypto Crime
During the launch event, Chief Inspector Ip Cheuk-yu of the Cyber Security and Technology Crime Bureau (CSTCB) discussed the dangers posed by Web3. He told attendees that crimes such as fraud, hacking, theft and sexual offenses are all threats in the metaverse.
The event also focused on the use of digital assets by contemporary cybercriminals and the progress that has been made in stamping out crypto crime.
In a press release that accompanied the launch, the Hong Kong police force said that in 2022 the city recorded 2336 virtual asset-related crimes. These led to a loss of $1.7 billion for victims.
And in the first quarter of this year, 663 such cases have already been reported. Worryingly, in…
