Hong Kong police arrested 682 people in a "planned attack" operation, dismantling a HK$44 million cryptocurrency money laundering syndicate.

PANews reported on February 4th that, according to Hong Kong 01, Hong Kong police disclosed that they had launched a citywide enforcement operation codenamed "Operation Scheme" over the past three weeks targeting fraud, cybercrime, and money laundering. 682 people were arrested for conspiracy to defraud, obtaining property by deception, and money laundering, involving 580 fraud and technology crimes with a total amount of HK$620 million. Among these operations, the Hong Kong Police Cyber ​​Security and Technology Crime Bureau's "Operation Warnet" dismantled a local online romance scam syndicate and a money laundering gang using virtual currency. This gang defrauded 314 victims of HK$44 million over the past 16 months, averaging approximately HK$150,000 per case.