Crypto-Linked Money-Laundering Scheme Worth $230M Uncovered In Hong Kong
by Bitcoinist.com
Bitcoinist.com— According to a South China Morning Post report, Hong Kong customs officers have apprehended three individuals in connection with a massive HK$1.8 billion ($228 million) money-laundering operation that exploited a crypto platform and bank accounts associated with shell companies. The arrests were made following an investigation into suspicious activities involving “abnormally frequent” and large transactions […]
Hong Kong Free Press HKFP—Hong Kong student jailed for 1 year and 4 months over money laundering charge linked to 2019 protest fund. A Hong Kong man has been jailed for one year and four months over his links to a fundraising platform that supported protesters in 2019. Yu Yan-yuk, currently a student at the Chinese University of Hong Kong, appeared at the District Court on Wednesday afternoon, local media reported. He earlier pleaded not guilty to money […]
PYMNTS.com—Venezuelan Opposition Politician Warns of Crypto Use for Money Laundering. Venezuela is reportedly expected to increase its use of cryptocurrency when the United States reimposes oil sanctions on the country beginning June 1. A Venezuelan opposition politician, Leopoldo Lopez, and a national security leader at New York-based blockchain data firm Chainalysis, Kristofer Doucette, released a report Monday (April 29) saying that democratic governments should set up structures to […]
Bloomberg—Hong Kong Exchange Open to Levered, Inverse Crypto ETF Products. Hong Kong’s stock exchange indicated the bourse is open to an expanded roster of crypto exchange-traded funds, as the city’s first spot-Bitcoin and Ether products go live.