According to Foresight News and reports from the Hong Kong Commercial Daily, the Hong Kong police launched an operation codenamed 'Night Strike' to dismantle an active cross-border money laundering criminal group involving mainland and Hong Kong individuals. The group recruited mainland individuals to open bank accounts in Hong Kong, profiting from the fraud cases, and then arranged for them to withdraw cash from the bank to exchange for cryptocurrencies at virtual asset exchange shops to launder the money. During the operation, 12 men and women were arrested, involving 118 million yuan in criminal proceeds.
The Chief Inspector of the Fraud Investigation Unit of the Hong Kong Commercial Crime Bureau, Lau Yuen-Saan, stated that from July 2024 to May 2025, this criminal group recruited mainland individuals to Hong Kong as puppet account holders, with the accounts mainly used to receive proceeds from various types of fraud. During this period, over 500 bank accounts were used to launder 118 million yuan. Among these, 10 million yuan has been confirmed to belong to the proceeds of 58 reported fraud cases, where victims lost approximately 43.2 million yuan in total.