Hong Kong police's 'secret code' arrest operation broke up a local Cryptocurrency fraud group, involving a total amount of HKD 360 million.

Golden Finance reported that the Hong Kong police have launched a “secret language” arrest operation, and are assisted by members of the Cyber Security and Technology Crime Investigation Division to search for evidence of online and cryptocurrency transactions, and have broken up a local fraud group involving cryptocurrencies, arresting 27 people, with a total amount of fraud exceeding HKD 360 million. Superintendent Yao Wing-kan of the Criminal Headquarters of the New Territories South Region stated that the fraud group mainly uses online romance methods to deceive victims into investing in cryptocurrencies. The group hires technology experts who have graduated from local universities with a major in digital media to provide technical support, and also collaborates with overseas fraudsters to build a fake cryptocurrency platform.