BTCC / BTCC Square / Global Cryptocurrency /
Hong Kong Police Arrest 12 in Cryptocurrency Money Laundering Sting

Hong Kong Police Arrest 12 in Cryptocurrency Money Laundering Sting

Published:
2025-05-19 03:07:01
6
2

Hong Kong authorities have dismantled a sophisticated cryptocurrency money laundering ring, arresting 12 individuals involved in processing HK$118 million (US$15 million) of illicit funds. The operation targeted both traditional banking channels and over-the-counter crypto exchanges used to obscure the trail of fraud proceeds.

Police raids across multiple locations yielded significant evidence, including digital assets and transaction records. Among those detained were two high-profile figures allegedly orchestrating the scheme, with suspects ranging from 20 to 42 years old occupying various roles within the criminal network.

The case highlights growing regulatory scrutiny of OTC crypto trading desks in Asia’s financial hubs. While no specific cryptocurrencies were named in the bust, the operation underscores the continuing cat-and-mouse game between financial criminals and law enforcement in the digital asset space.

|Square

Get the BTCC app to start your crypto journey

Get started today Scan to join our 100M+ users