Hong Kong Police Bust Crypto Scam Ring, 25 Arrested

• 25 men and women have been taken in custody by Hong Kong authorities.
• The group is deemed responsible for 39 crypto scams cases. 
• 23 men and 16 women, aged between 19 and 72, lost almost $1 million to these scammers.

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.

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).

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.

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Senior Inspector Mak Ning-fung led the investigation, revealing that the group consisted of 18 men and 7 women, aged be…

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