Hong Kong Police Dismantle Cryptocurrency Money Laundering Syndicate

According to Odaily, Hong Kong police recently conducted an operation codenamed 'Double Guns,' targeting a money laundering syndicate involved in cryptocurrency activities. The operation led to the arrest of three men and one woman at a commercial building in Tsuen Wan. The syndicate had been actively promoting their services through social media platforms, text messages, and mobile applications, offering enticing incentives such as 'new member registration bonuses' and 'real money in, cryptocurrency out' schemes. Investigations revealed that the group had accumulated over HKD 600 million in funds since its inception.