150 more suspected victims in Hong Kong-based bitcoin MyCoin collapse

Another 150 people are reported to have fallen prey to an alleged scam relating to the collapsed Hong Kong-based bitcoin trading platform MyCoin - involving an estimated HK$100 million.

The latest victims emerged on Wednesday after Democratic Party legislator James To Kun-sun, accompanied by 23 victims, reported the situation to police, saying the syndicate had used "sophisticated" ways to lure money.

Some 60 Hong Kong residents and 90 non-locals, mostly from the mainland and Taiwan, have been seeking help from To since early last month - several days before fellow legislator Leung Yiu-chung brought the alleged scam to light.

One of the mainlanders reporting to be a victim on Wednesday said he had invested HK$800,000 after attending a conference in Macau on the virtual currency - which has soared in popularity in recent years, but also been at the centre of a string of controversies - last August.

The man, who gave his surname as Ma, said he didn't suspect anything as he had previously attended a MyCoin event featuring international investment guru Jim Rogers, and celebrities such as singer Wu Bai had performed at such events.

But Ma said that when he couldn't log in to the trading platform in February, he feared he had been cheated.

The victims were told that for every 90 bitcoins they bought through MyCoin, they would receive 219 a year later - more than double their return.