HK and Macau Joint Op Detains 8 in $97M Crypto Fraud Ring

Cross-border 'Junli' operation arrests eight suspects across Hong Kong and Macau for virtual currency investment fraud, with reported losses exceeding 97 million yuan.

Woofun AI reports that the Hong Kong Police Commercial Crime Bureau and Macao Judiciary Police executed a joint enforcement operation codenamed "Junli" from August 1 to 3. The action targeted a criminal group conducting virtual currency investment fraud, resulting in the detention of eight individuals. Hong Kong authorities arrested one man and five women on charges of conspiracy to commit fraud, while Macao police detained two women for aggravated fraud. As of August 3, Hong Kong recorded 225 reports with losses of approximately 94 million Hong Kong dollars, and Macao logged nine reports involving about 3.6 million Macao patacas, bringing total losses to over 97 million.