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Crypto Laundering Ring Busted in Hong Kong as 12 Suspects Arrested

coingape.com

13 hour ago

Crypto Laundering Ring Busted in Hong Kong as 12 Suspects Arrested

Hong Kong police have dismantled a cross-border crypto laundering syndicate after arresting 12 suspects. The group allegedly laundered HK$118 million (approximately $15 million USD) through a network of over-the-counter crypto exchange shops and traditional banks. Authorities said the money came from various scams and was converted into cryptocurrency to hide its origins.

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