Hong Kong Customs has cracked a money laundering case involving a virtual currency trading platform worth 1.8 billion Hong Kong dollars

ChainCatcher news, Hong Kong Customs reported the successful investigation of a major money laundering case involving an amount as high as 1.8 billion HKD. Preliminary investigations revealed that a criminal group consisting of 3 members processed over 1,000 suspicious transactions between June 2021 and July 2022 by setting up multiple shell companies and bank accounts, including a large amount of suspicious fund transfers from virtual currency trading platforms. This indicates that criminals are attempting to launder illegal proceeds by exploiting the anonymity of virtual currencies. Currently, Customs has arrested 3 key members of the criminal group, sealed the involved companies, and confiscated a large number of criminal tools, including mobile phones, company seals, and bank cards. The case is still under further investigation, and more suspects may be arrested. This case serves as a warning, reminding the virtual currency industry to remain vigilant and strictly adhere to anti-money laundering regulations.