Hong Kong Law Enforcement Dismantles Major Cryptocurrency Money Laundering Operation

In a significant crackdown, Hong Kong law enforcement authorities have arrested 12 individuals suspected of involvement in a large-scale cryptocurrency money laundering scheme. The operation, spearheaded by the Commercial Crime Bureau, resulted in the seizure of over HK$1.05 million in cash and several electronic devices containing financial documents. Authorities believe that these individuals laundered approximately HK$15 million using traditional banking and OTC cryptocurrency exchanges to disguise the origin of funds acquired through fraudulent activities.