Techub News reports that, according to Hong Kong 01, Hong Kong police have uncovered a case involving the use of puppet accounts and cryptocurrency exchange shops to launder money. Two mainland Chinese individuals opened 43 local bank accounts in Hong Kong, received proceeds from 34 different scam cases, and purchased cryptocurrencies at exchange shops, laundering approximately HKD 17.3 million in criminal gains. Fund flow analysis shows that the criminal group conducted cryptocurrency transactions through local bank accounts, with the total amount of money laundered reaching HKD 230 million. The police charged the two individuals with 3 and 10 counts of money laundering respectively. After reviewing the case, the court approved increased sentences, with sentences of 28 months and 43 months in prison.