$15m crypto laundering operation busted in Hong Kong
Hong Kong authorities have successfully busted a cross-border crypto laundering network that allegedly processed approximately HK$118 million (US$15 million) in illicit funds.
The enforcement action resulted in a dozen arrests as officials intensified their campaign against individuals who monetized their personal banking credentials.
Law enforcement conducted a series of coordinated raids on Thursday led by the Commercial Crime Bureau. This led to the detention of nine males and three females between the ages of 20 and 40 across several Hong Kong districts.
The operation obtained evidence such as HK$1.05 million in cash currency, a collection of over 560 bank cards, multiple communication devices, and financial…
