The operation uncovers a scheme involving 1.15 billion yuan in smuggled cash and virtual assets, highlighting ongoing efforts to combat financial crimes in Hong Kong.
Hong Kong Customs arrested two men in connection with a money laundering case involving approximately 1.15 billion yuan, linked to smuggling cash and virtual assets. The suspects were found conducting rapid transactions of stablecoins and fiat currency with funds of unknown origin. Authorities seized electronic devices during the operation, and further arrests may occur as the investigation continues.