Hong Kong’s customs government arrested 4 other people as part of an alleged $155 million cash laundering program lyzing the cryptocurrency.
According to reports from Bloomberg and local media, 4 men between the ages of 24 and 33 have been arrested as part of an operation called “Coin Breaker. “
Hong Kong customs officials told media that the men opened bank accounts and then transacted in Tether, the largest solid currency, through a crypto exchange, media reported. The transactions concerned a cryptocurrency value of HK$1,200 million, a value of approximately HK$155 million.
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Cryptocurrencies have long been used for fraudulent purposes, as they can be used anonymously and are difficult to track.
On Friday, the U. S. District CourtIn Seattle he said a 33-year-old identity thief who used bitcoin for detection had been sentenced to 3 years in prison.
And on Tuesday, London’s Metropolitan police said they had seized $249 million worth of cryptocurrency in an alleged money laundering case.
In Hong Kong, as in the UK, crypto corporations will be required to log in to the monetary supervision framework for anti-money laundering purposes.