Hong Kong Busts Alleged $155M Crypto Laundering Scheme

Share this article Hong Kong authorities have arrested four men on suspicion of running a cryptocurrency money laundering scheme. The group is alleged to have illegally transferred $155 million using cryptocurrencies. Hong Kong Makes Arrests Alleging Crypto Laundering Hong Kong authorities have revealed the first money laundering case involving cryptocurrency in the region. Four men aged between 24 and 33 have been arrested under operation "Coin Breaker," according to a statement from Hong Kong Customs. The customs authority alleges that the men laundered HK$1.2 billion (US$155 million), using local banks to make transactions through a virtual currency exchange. The suspicious…