According to a report by Hong Kong 01, Hong Kong police recently uncovered a serial scam targeting mainland Chinese students studying overseas. The scam group impersonated mainland officials to lure victims to Hong Kong to purchase gold bars as a "security deposit." They then melted the gold bars and converted the proceeds into cash or cryptocurrency to launder the funds. It is reported that police have received 7 similar cases since the beginning of this year, involving a total amount of approximately HK$7 million. So far, authorities have arrested 4 suspects and recovered around HK$5 million in stolen funds and assets. https://(wublock123.com)/news/hong-kong-police-bust-hk7m-gold-scam-to-wash-proceeds-via-crypto-60123