Crypto Game
  • Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News

    Bitcoin Dips Amid $3.6B Options Expiry and Whale Activity

    Drake’s Bitcoin Lyric Sparks Crypto Community Buzz

    Drake Mentions Bitcoin in Latest Single Release

    Bitcoin Treasury Capital Set for Sweden Stock Market Debut

    Bitcoin Treasury Capital Gains Listing on Sweden’s Spotlight Market

    Bitcoin Treasury Capital Gains Approval for Swedish Listing

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar

    XRP Analyst Predicts $32 Price Surge After Long Consolidation

    XRP Gains 450% After Regulatory Clarity; ETH Falls

    Smithii Enables Rapid Meme Coin Creation on Solana

    JA Mining Enhances Crypto Accessibility with AI-Powered Platform

    JA Mining Expands Altcoin Services with AI Optimization

    BlockDAG Partners with Seattle Seawolves for Blockchain Solution

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Hong Kong Police Arrest 12 in Crypto Laundering Bust

Solomon M. by Solomon M.
May 18, 2025
in Latest News
Key Points:
  • Hong Kong police target $15 million crypto laundering case.
  • 12 individuals arrested; $98,540 cash seized.
  • No major crypto entities implicated in the bust.
hong-kong-police-arrest-12-in-crypto-laundering-crackdown
Hong Kong Police Arrest 12 in Crypto Laundering Crackdown

The arrest of 12 individuals in Hong Kong’s crypto laundering case underscores the city’s intensified regulatory measures, emphasizing the jurisdiction’s commitment to tackling financial crimes without causing significant disruptions in the crypto markets.

Operation Details and Arrests

The arrest of 12 people in a $15 million crypto laundering case showcased the suspects’ operations from Hong Kong and mainland China, using over 500 bank accounts for laundering. HK$770,000 was seized in raids, but no high-profile firms were involved.

Authorities identified suspects recruiting friends and family to open “stooge” bank accounts. These accounts were converted into cryptocurrencies at exchange shops, with funds flowing through multiple exchanges. Senior Inspector Tse Ka-lun emphasized the coordinated nature of these operations.

The suspects recruited friends and family members to open a large number of stooge bank accounts for laundering criminal proceeds, often by converting them into cryptocurrency at exchange shops — Senior Inspector Tse Ka-lun

The crypto industry and market largely remained unaffected after the arrests, as no prominent cryptocurrency projects or exchanges were directly involved. This incident did not affect broader market conditions or disrupt crypto trading activities.

Broader Initiative Against Illicit Activities

The crackdown forms part of Hong Kong’s broader initiative against illicit crypto activities. The operation aligns with strict compliance standards urged by the Securities and Futures Commission, reflecting the region’s commitment to legitimizing cryptocurrency use.

Past actions against crypto fraud indicate increased enforcement by Hong Kong authorities. This incident reflects a concerted effort to maintain market integrity while avoiding systemic disruptions to digital assets and exchanges.

Senior Inspector Tse Ka-lun noted the preventative measures in place under the new legal framework. This emphasizes efforts to protect Hong Kong’s financial systems and combat evolving cybercrime threats, reinforcing global collaboration in fighting crypto-related crimes.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

Previous Post

Hong Kong Police Dismantle $15M Crypto Laundering Syndicate

Next Post

Hong Kong Police Arrest 12 in $15M Crypto Laundering Case

Solomon M.

Solomon M.

Related Posts

Petrobras Seeks Chinese Investment for Shipbuilding Expansion

by Adriana M.
July 5, 2025

Petrobras CEO Magda Chambriard aims to secure Chinese investment for Brazil’s oil logistics and shipbuilding growth.

Petrobras Seeks Chinese Investment for Shipbuilding Projects

by Solomon M.
July 5, 2025

Petrobras aims to expand Brazil's shipbuilding with Chinese investment, led by CEO Magda Chambriard.

Trump Announces Planned Tariffs Targeting Twelve Countries

by Solomon M.
July 5, 2025

President Trump confirms upcoming tariffs on twelve countries, impacting global trade and financial markets.

OKX CEO Addresses User Fund Lock Issues

by Solomon M.
July 5, 2025

OKX faces user complaints over locked funds. CEO Star Xu promises improvements.

OKX Acknowledges User Complaints, Promises Fix for Locked Funds

by Solomon M.
July 5, 2025

OKX CEO Star Xu addresses user complaints about account locks and risk flags, pledging quick resolutions.

OKX Addresses User Complaints and Promises Faster Resolution

by Joshua T.
July 5, 2025

OKX exchange addresses user issues of locked funds, promising solutions amid mounting complaints.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.