Solana News: Fake Hong Kong Chief Executive Account Promotes Non-Existent ’National Hong Kong Coin’

In a recent incident, a fraudulent account posing as Hong Kong’s Chief Executive promoted a fake cryptocurrency on the Solana blockchain, leading to a warning from authorities.

Fake Hong Kong Chief Executive Account Promotes Hong Kong Coin on Solana

A fake account impersonating Hong Kong’s Chief Executive John Lee Ka-chiu falsely claimed that the government was launching a ’National Hong Kong Coin’ on the Solana blockchain. The fake account, named ’JohnLeeKa_Chiu’, announced the launch at 02:00 PM Hong Kong Time (6:00 PM UTC), stating it would aid economic growth in Hong Kong. Authorities in Hong Kong have issued a warning regarding this fraudulent activity.

Hong Kong Coin Fraud: Scammers Impersonate Chief Executive to Launch Fake Crypto

A Facebook account linked to the official website of the Chief Executive of the Hong Kong Special Administrative Region denied information about the launch of a National Hong Kong Coin. The fraudulent post claimed the coin would be launched on the Solana blockchain, sparking excitement in the crypto community. However, the Chief Executive’s account clarified that this was fake news.

National Hong Kong Coin Launch: Crypto Scam Alert

The launch of the National Hong Kong coin on the Solana blockchain has been revealed as a fraud. The Hong Kong government issued a warning after a fake social media account impersonating the Chief Executive promoted the fraudulent crypto token ’National Hong Kong Coin’. Legislative Council member Ng Kit Chuang clarified that no such crypto was issued by the government. The scam has shocked both the Hong Kong government and crypto enthusiasts.

SOL Price Crash, Meme Coin Scandal: Is It Over for Solana? Analyst Weighs In.

Solana’s price dropped 47% in February, with meme coin scandals damaging its reputation despite record-breaking revenue growth. Pump.fun fueled a massive meme coin boom but faced legal scrutiny, with nearly 90% of launched tokens offering little to no returns. Despite the controversy, Solana remains the second-largest DeFi blockchain, with analysts suggesting it may need to shift focus beyond speculation. SOL’s price fell from $242 to $127 in February despite reaching a new all-time high (ATH) of $293 on Jan. 19. At the time of writing, it had rebounded to $150. Solana has become the go-to blockchain for meme coin launches, with Pump.fun making the process easier and faster. The result was a surge in meme coin activity, fueling Solana’s performance in late 2024.