According to a report by Hong Kong 01, Hong Kong police have busted a syndicate involved in phone scams and laundering stolen funds, arresting a total of 17 people and seizing HK$3.67 million in cash from three locations in Mong Kok. Police stated that the group recruited Malaysians to come to Hong Kong as 'runners' to collect so-called bail money from elderly victims and used cryptocurrency exchange centers and money changers to process or transfer part of the stolen funds. Investigations revealed that the syndicate collected approximately HK$4.67 million in scam proceeds between June 4 and August 14, some of which was processed or transferred through cryptocurrency exchange centers and money changers. So far, 22 victims have reported the case, involving a total amount of about HK$2.47 million. https://(wublock123.com)/news/hong-kong-police-bust-impersonation-scam-seize-3-67m-hkd-crypto-exchange-66615