The Hong Kong police have cracked a virtual currency investment fraud case, involving an amount up to 72 million Hong Kong dollars

According to the Hong Kong Commercial Daily, from March 10th to 19th, the Hong Kong police carried out an arrest operation codenamed "World Noble" in Yau Tsim Mong district, successfully cracking down on a series of fraud and money laundering activities. This operation solved 45 cases and arrested a total of 54 suspects with the amount involved reaching as high as HK$194 million.

The case involving the highest amount was a cryptocurrency investment scam targeting foreigners, with an involved sum up to HK$72 million. The victims were deceived into investing in cryptocurrencies and transferring funds into designated bank accounts. The police have arrested two mainland women (aged 30 and 34), who claimed to be housewives and businesswomen respectively. They were charged with money laundering at Kowloon City Magistrates' Courts on March 11th.