Hong Kong police arrested over a hundred people in a crackdown on fraud and money laundering cases, with the largest virtual currency scam involving more than 20 million dollars

ChainCatcher news, according to Ming Pao, the Hong Kong police have launched an operation codenamed "Kongding" in the Sham Shui Po district over the past two weeks to combat fraud and money laundering cases, arresting 100 people, most of whom are puppet account holders. This involves laundering the criminal proceeds from 82 fraud cases, amounting to 180 million HKD, with the largest virtual currency investment fraud case exceeding 20 million HKD.

It is reported that among those arrested, 3 men and 1 woman have been charged with obtaining property by deception and money laundering. They appeared in the West Kowloon Magistrates' Court from the 7th to the 18th of this month, while the others have been granted bail and are required to report to the police in June.