A source told the South China Morning Post that Hong Kong police have arrested three suspects for allegedly providing a businessperson with three bundles of counterfeit HK $1,000 banknotes to defraud him of 3.11 million Hong Kong dollars (about $399,000) in crypto assets. "Except for two real banknotes placed at the top and bottom of each bundle, the rest are counterfeit banknotes, known as training banknotes," the insider said.