Tag: HongKong

Insane !12 Busted in $15M Crypto Laundering Ring : Hong Kong Cracks Down on Web3 Fraud

Twelve people just got clapped by Hong Kong and mainland China cops for laundering HK$118M ($15M) through fake bank accounts + crypto exchanges. Yeah, they were literally running the operation from an apartment in Mong Kok.

Crypto

These fraudsters used 500+ stooge accounts (that’s when you use someone else’s bank info) to wash dirty money from scams and flip it into it. Two rookies got caught mid-mission trying to drop stacks at a shop in Tsim Sha Tsui—police swooped in and grabbed HK$770K cash on the spot.

The Haul:

  • $134K in seized cash
  • 560+ ATM cards
  • Phones & docs tied to bank ops

Most of these stooge accounts came from clueless friends and fam—yikes. This bust comes while fraud cases in HK are up 12% and 73% of them are tied to stooge accounts.

🛡️ HK’s Response:
Hong Kong’s pushing back hard with a new tool called CryptoTrace—made with the University of Hong Kong—to track shady crypto activity. Plus, the city’s still dealing with that fake “National Hong Kong Coin” scam that finessed $3.1B in 2024.

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Hong Kong Asia Holdings’ Stock Explodes 93% After Unexpected Bitcoin Purchase

Hong Kong Asia Holdings’ stocks rose 93% just to buy 1 BTC—crypto mania does exist, but will it last?



Hong Kong Asia Holdings recently made waves in the market with its stock going up 93% after announcing that it bought one Bitcoin. Yes, just one BTC—and investors still lost their minds.

The company, not really known for crypto moves, casually dropped the news in a filing, and suddenly, the market was all in. Some people think this could be the start of a bigger crypto play, while others say it’s just classic hype. Either way, the stock price pumped hard, proving once again that even the smallest crypto connection can send investors into a frenzy.

This isn’t the first time a company saw its stock moon over a crypto headline. It happened before when businesses hinted at blockchain adoption—even if they didn’t actually do much with it. But the real question is: Is this pump legit, or just another hype-fueled spike?

If Hong Kong Asia Holdings actually goes deeper into Bitcoin or blockchain, this could be a game-changer. But if not, this rally might fade just as fast as it came. For now, the market’s vibing with crypto, and the bulls are running.

Also Read: Nigeria Government vs. Binance’s Tigran: A Clash Over Corruption Allegations

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