Crypto Chaos: Hong Kong’s Chief Executive Gets Impersonated in Hilarious Scam!

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In a curious twist of fate, an X account, masquerading as Hong Kong’s Chief Executive, John Lee Ka-chiu, has taken it upon itself to launch a fictitious national cryptocurrency on Solana’s token launchpad, Pump.fun. This audacious impersonator, with a flair for the dramatic, sought to ride the wave of the recent Political memecoin frenzy, as if it were a new fashion trend. 🎭

Hong Kong Gov’t Denies National Cryptocurrency

On a rather uneventful Thursday, the account under the whimsical username “JohnLeeKa_Chiu” proclaimed the arrival of the “National Hong Kong Coin” (HKONG). In a now-deleted post, the impersonator declared this “strategic step” as a herald of a “new era in digital innovation and economic growth for Hong Kong.” One can only imagine the real John Lee chuckling at the audacity of it all. 😂

Hours later, the account announced that the token would launch at 2:00 pm Hong Kong time, only to postpone it to 5:00 pm—because who doesn’t love a good delay? In the meantime, our impersonator engaged in a delightful exchange with several X accounts, even replying to the likes of US President Donald Trump and Indian Prime Minister Narendra Modi. Perhaps they were just trying to make new friends? 🤷‍♂️

In a particularly entertaining moment, the account chimed in on a heated exchange between Barstool Sports founder Dave Portnoy and American actor Nick Cannon, who had recently launched a Solana memecoin. The impersonator, in a fit of gratitude, thanked Portnoy for “helping the Hong Kong government with the launch of its national cryptocurrency.” Oh, the irony! 🙃

As the crypto community buzzed with speculation, some wondered if the Chief Executive had been hacked or if this was merely a grand scam. The account bore a gray verification mark, which typically signifies an account representing a government or multilateral organization. A clever ruse, indeed!

However, the real John Lee Ka-chiu’s official Facebook page swiftly denied any association with the X account, clarifying that the government was not, in fact, launching a cryptocurrency. “Members of the public should not mistakenly believe the fake information claiming that the Chief Executive has announced the launch of the National Hong Kong Coin,” the post sternly read. One can almost hear the sigh of relief from the real John Lee. 😅

He went on to warn the public about the impersonator’s deceitful antics, advising them to “be careful in seeking evidence and verifying the authenticity of the information to prevent them from being cheated.” Wise words, indeed, but one wonders if anyone was actually listening. 🤔

Is The Political Memecoin Party Over?

On X, a member of the Legislative Council of the Hong Kong Special Administrative Region, Johnny Ng, echoed the same warning:

To be absolutely clear – the government has confirmed this is completely fake and designed to scam people. Please be careful out there and don’t fall for this trick!

This incident has raised eyebrows regarding X’s account verification and security, following a long list of hacked accounts used to promote crypto scams. One astute user pointed out that the impersonator likely hacked the account of Indian officials, changing the username, name, and biography to execute this scheme. A true master of disguise! 🎭

Notably, the account had previously posted pictures of the Prime Minister of India and reposted several posts from various Indian officials. However, it later deleted all posts related to the National Hong Kong cryptocurrency and changed its username to “moftransilvania,” suggesting that the hackers were still in control. Perhaps they were just trying to add a touch of mystery? 🕵️‍♂️

Some users noted that the scam didn’t gain much traction, as the hacker failed to launch and post the token’s contract address (CA) quickly, allowing investors to spot the red flags. Consequently, the HKONG token only managed to reach a market capitalization of $200,000 before plummeting. A tragic tale of missed opportunities! 📉

Others lamented that the launch of political or politician-related memecoins has already inflicted “enough damage” on the crypto industry, recalling the Central African Republic (CAR) “experiment” and the Argentina-linked Libra token (LIBRA) crash. A veritable graveyard of failed tokens! ⚰️

As reported by Bitcoinist, the Democratic Party of The US House of Representatives has proposed the Modern Emoluments and Malfeasance Enforcement (MEME) Act, aiming to prohibit federal officials from promoting various financial assets or engaging in activities that could financially benefit them from these assets. A noble endeavor, indeed!

This move follows the launch of the TRUMP and MELANIA memecoins by the US Presidential Family, which has raised concerns about the risks of Politician-issued tokens. One can only hope that this is the last we hear of such shenanigans! 🙏

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2025-03-07 05:02