Hong Kong's "Mou Gong" anti-fraud law enforcement operation arrests 682 people, including the capture of a virtual currency money laundering gang with 44 million HKD.

CycleProphet · 2026-02-04T01:56:45+00:00

Hong Kong police recently carried out an operation codenamed "Mou Gong," arresting 682 people and cracking down on 580 cases of fraud and cybercrime, involving a total amount of HKD 620 million. Among them, the police dismantled a money laundering gang and successfully traced their scam funds of approximately HKD 44 million that were laundered through virtual currencies.

CycleProphet

2026-02-04 01:56:45

Abstract generation in progress

Deep Tide TechFlow News, February 4th, according to Hong Kong 01, Hong Kong police recently launched a city-wide law enforcement operation codenamed “Mou Gong,” resulting in the arrest of 682 individuals involved in 580 cases of scams and technology crimes, with the total amount involved reaching HKD 620 million.

Among these, during the law enforcement operation codenamed “WarNet” by the Hong Kong Police Cybersecurity and Technology Crime Bureau, the police successfully dismantled a criminal group using virtual currencies for money laundering. The group was hired by an online scam syndicate and used complex fund transfer methods to launder approximately HKD 44 million in scam proceeds. The criminal organization transferred funds through over 200 bank puppet accounts and opened fake accounts on overseas virtual currency platforms to convert illegal funds into virtual currencies, which were then cashed out through over-the-counter exchanges. During this operation, 11 people were arrested, including 3 masterminds and 1 key member.

The police stated that this method of money laundering, combining physical, virtual currency transactions, and cash couriering, is highly sophisticated, greatly increasing the difficulty of tracking the funds.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.