The Hong Kong Court of Appeal has upheld Ma Zhihao’s 56-month prison sentence for his role in a human trafficking and fraud conspiracy. Victims were recruited through fake job offers on social media platforms and transported to Southeast Asia compounds where they faced confinement, torture, and forced participation in scams. A family paid a ransom of approximately 9,527 USDT in cryptocurrency, which blockchain investigators traced to an exchange account registered in Ma Zhihao’s name and ultimately to his HSBC bank account after conversion to HK$63,000. Ma Zhihao and an associate admitted the charges, with the appeals court noting the District Court’s seven-year sentencing cap limited the penalty despite the operation’s scale. The case illustrates the growing role of cryptocurrency in scam and trafficking networks, as tracked flows to human trafficking services rose 85% in 2025.