Police arrested two boys and two men on July 26 for allegedly trading cryptocurrencies to 12 people using fake coins commonly known as "exercise tickets". During the operation, police seized a large amount of counterfeit Hong Kong currency, which involved HK$11 million in the case, and the four men are currently being detained for investigation.

Police investigations revealed that the four arrested individuals, aged between 14 and 39, used social media to lure customers to a fake "cryptocurrency exchange store" and then instructed them to transfer cryptocurrencies to a related account. The police said that the arrestees would immediately transfer the cryptocurrencies and hand over the fake coins to the victims.

Since October last year, the police have received a number of reports that a total of 12 victims have received suspected counterfeit coins when trading in cryptocurrencies. The police said that the counterfeit coins in question were "practice tickets" used by mainland bank staff for practicing, and the police will trace the source.

Police arrested four people on suspicion of conspiracy to defraud and exercise or custody of counterfeit banknotes, and they are being held for investigation. 

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