Hong Kong Dismantles $15 Million Cryptocurrency Money Laundering Syndicate

Hong Kong authorities have dismantled a major cryptocurrency money laundering scheme, seizing funds and arresting twelve individuals in an operation dubbed ‘Night Raid.’ The action, carried out on May 15, 2025, exemplifies Hong Kong’s dedication to regulating digital currency activity. The operation targeted a syndicate using over 500 bank accounts for illicit transactions, illustrating the city’s commitment to fighting financial crimes.