๐จ Crypto Laundering Ring Busted in Hong Kong โ 12 Arrested in $15M Scheme
๐ญ๐ฐ Hong Kong police have dismantled a cross-border crypto laundering syndicate, arresting 12 individuals tied to a HK$118M ($15M USD) laundering operation.
๐ฑ The group used a network of OTC crypto exchanges, shell accounts, and bank cards to clean illicit funds originating from online scams.
๐ Key details:
๐ 12 suspects aged 20โ42
๐ฆ Funds routed through crypto + traditional banks
๐ Ties across Hong Kong and mainland China
๐ This bust highlights the growing challenge of tracing illicit funds in an increasingly digital financial ecosystem โ and the need for stronger cross-border crypto compliance and regulation.
