Odaily Planet Daily News Hong Kong Customs today cracked a case involving money laundering suspected of using smuggled cash and virtual assets, with an amount involved of approximately 1.15 billion HKD. They arrested a local man and a non-local man. It is reported that Hong Kong Customs personnel identified a 37-year-old local man and a 50-year-old non-local man and launched a wealth investigation, discovering that the two had smuggled cash out of the country and conducted frequent and rapid large transactions in stablecoins and fiat currencies with funds of unknown origin, which was highly inconsistent with their backgrounds and financial situations, suspected of engaging in money laundering activities. During the operation, customs personnel seized a batch of suspected items related to the case, including mobile phones, tablets, and bank cards. The case is still under investigation, and the two arrested individuals are currently out on bail, with the possibility of more arrests not ruled out. (Sing Tao Daily)