Hong Kong police have arrested 25 men and women involved in a cryptocurrency scam and money laundering operation. Authorities report that digital asset scams represent 7% of all fraud cases in the Special Administrative Region (SAR) of China.
Arrests and Operations
According to a report, the Wong Tai Sin District Crime Department conducted an enforcement operation codenamed “Lian Dou” from September 19 to 26. This operation resulted in the arrest of 25 individuals allegedly involved in crypto scams and money laundering, perpetrating 39 scams and defrauding victims of over 7 million yuan (almost $1 million).
Victims' Losses
These 39 cases involved 23 men and 16 women, aged between 19 and 72, including clerks, students, and housewives, who were scammed out of their savings.
Investigation Progress
Senior Inspector Mak Ning-fung led the investigation, revealing that the group consisted of 18 men and 7 women. The age of the arrested individuals ranges from 19 to 72 years, including clerks, students, and housewives.
Hong Kong police will continue to combat cryptocurrency scams and money laundering to prevent such crimes in the future.
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