The Hong Kong Police Force’s Cyber Security and Technology Crime Bureau has announced an update on enhancing the security of the city’s virtual asset ecosystem, as reported by PANews. Chief Superintendent Lam Cheuk-ho underscored the importance of collaborative efforts between exchanges, regulatory bodies, and law enforcement agencies in upholding robust security standards. The bureau has partnered with the University of Hong Kong to develop CryptoTrace, a specialized tool designed for analyzing virtual asset transactions to provide advanced intelligence and support for criminal investigations. Furthermore, a dedicated anti-fraud team has been deployed in the New Territories South region.