Police Commissioner Raymond Siu on Saturday said officers have received 83 reports regarding the cryptocurrency exchange, JPEX, involving a total of HK$34 million.
The Securities and Futures Commission had earlier accused the platform of displaying "suspicious features" and warned that it may involve fraud.
It said JPEX has proclaimed itself “a licensed and recognised platform to facilitate the trading of digital asset and virtual currency”, but the group had not applied for a licence to operate in the city.
Siu said officers are looking into the case referral and a hotline, 28605012, has been set up for the public to make reports or seek more information.
Meanwhile, the police chief said officers have been in touch with Cyberport and have provided opinions on safeguarding cybersecurity, after hackers stole 400 gigabytes of data in a cyber-attack on the company's file storage server in August.
Siu said technology crimes have been increasing and different stakeholders have to work together, including enforcement agencies, experts and firms.