[Hong Kong Police Uncover Virtual Currency 'Gold Nugget Money Laundering' Fraud Case Involving Approximately HK$7 Million] Odaily Planet Daily News – The Hong Kong police have disclosed the cracking of a cross-border phone scam case. The criminal syndicate impersonated mainland officials and specifically targeted mainland students studying in the UK and Australia. The scammers falsely claimed that the victims were involved in money laundering and other criminal cases, demanding their 'cooperation in the investigation.' Victims were instructed to travel to Hong Kong and purchase gold nuggets from jewelry stores in multiple transactions as a 'security deposit,' with each transaction not exceeding HK$120,000 to evade jewelry store registration systems. The gold nuggets were then collected by syndicate members and the stolen goods were transferred. The obtained gold nuggets were subsequently melted into gold bars or converted into cash and virtual currencies. To date, the police have received seven related cases involving approximately HK$7 million, with the highest single-case loss reaching HK$1.6 million. (Hong Kong Wen Wei Po)