The "Technology Crime Police Advisory Group", composed of the Hong Kong Police Force and 12 experts and leaders from the technology sector, held its sixth meeting to discuss the dangers and opportunities brought by Web3. The group believes that Hong Kong has been actively promoting the application of Web 3 and blockchain technology in recent years, but little attention has been paid to the cyber security risks and fraud traps brought by the technology. In order to enable the public to enjoy the convenience brought by Web3 technology in their lives, the government and regulators need to formulate a strong regulatory system for the entire Web3 ecosystem to prevent and combat any illegal activities. Members of the Hong Kong Science and Technology Crime Police Advisory Group discussed in depth the types of Web3 projects and the importance of blockchain auditing at the meeting. In addition to auditing the source code of the project, Web3 Security Audit Company will also evaluate the engineering personnel and managers of the entire development project. The evaluation criteria include the scale and results of the development projects they have participated in in the past. Encourage the Web3 industry to take the initiative to organize an information exchange platform and actively participate in public-private partnerships, so as to promote the vigorous development of the Web3 industry. The group also hopes that the government will firmly promote the sustainable development of Web3 in Hong Kong and create a stable environment that encourages innovation for emerging industries.