According to ChainCatcher citing Macau Radio Television, a Macau man and a mainland Chinese man had previously lost money investing in cryptocurrency together. They later agreed to trade 640,000 USDT for HKD 5 million. On November 6, the buyer deposited the money into the seller’s account at a casino in Cotai, Macau, but received only 40,000 USDT.

The seller then left, saying he was going to smoke, and the remaining 600,000 USDT was never transferred. Macau police investigators found that the suspect did not have enough USDT to complete the deal and converted the money into casino chips immediately after receiving it. He is suspected of deliberate fraud involving approximately HKD 4.68 million.