When I say that criminals are always one step upfront us I really mean it, this is one more scam "movie" where they used the most large Crypto app to communicate, the Telegram! This criminals used dozens of groups to promote smart contract and sell a bunch of fake tokens to investors who they promised that was selling Huobi tokens (HT) and could earn dividends from that, also provided arbitrage groups to make them look legit.
All their scheme was flagged and reported to the Chinese Police by an investor who made a certain investment and after sending 10 ETH to the scammers, they sent to him 60 Fake Huobi tokens, once this investor want to sent to the exchange to sell and get his profit spotted that the referred tokens smart contract was different and couldn't deposit the amount!
The Cops made diligences which ends up with the seizure of $15 millions worth in Cryptocurrency also confiscate luxury vehicles, a Ferrari worth almost $430,000 and a McLaren worth almost $600,000 from criminals linked to that fraud business promoted and executed using various Telegram groups! Scammers have many techniques to lure and impersonate people, they target people who they know that can fall on their trap, this ones mostly have desires to earn money in "a day of work", they study each investor behaviour and when they have you on hands they just apply their scam!
Mostly Fall on the Telegram scam, because they believed in the groups spreaded all over the Telegram app, they believed in the business conducted by this criminals and ended up being scammed by them!
Always be sure to make research first before any investment, get info about what you plan to invest, don't get deceived by scammers.
Be more smarter than them, stay safe.
That's lovely