The new collaboration seeks to enhance crime detection and cybersecurity across Hong Kong's virtual asset sector, with reported cases down but losses rising.
Hong Kong authorities, including police, customs, and financial regulators, have formed the 'Virtual Asset Intelligence Group' (VAIT) to improve collaboration in combatting crypto-related crimes. Police Commissioner Siu Chak-yee reported 1,463 virtual asset-related cases in the first eight months of the year, a 16% decrease from last year, but with total losses rising by 5% to HK$2.27 billion.