Hong Kong police forces recently made 458 arrests related to crypto scams, specifically 314 money laundering incidents.
An approximate amount of $15 million was laundered through cash withdrawals and transactions involving cryptocurrencies.
Those detained as victims were involved in various financial crimes, including online shopping, job search scams, and other illicit activities.
Full details are below.
Hong Kong police operation leads to arrests for crypto scams
As anticipated above, Hong Kong police have made 458 arrests related to 314 money laundering cases, totaling nearly $60 million.
About $15 million of this amount was reportedly laundered through cash withdrawals and transactions involving crypto.
The Hong Kong police launched an anti-money laundering operation this month, arresting 458 people from 314 cases involving HK$470 million, of which about HK$1.1 was laundered through cash withdrawals and cryptocurrency transactions. https://t.co/RAW9izP5xQ
— Wu Blo
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