Hong Kong police have arrested 27 individuals, including students, in connection with a crypto fraud scheme. The group allegedly defrauded victims of HK$360 Million by luring them into investing in cryptocurrency through online romance methods. The individuals arrested, aged 21 to 34, were relatively young, with some being graduates from well-known local universities. The mastermind behind the scheme was identified as a 29-year-old gangster. The police executed the arrests after a two-month investigation, seizing various devices and items from the crime site. The accused individuals have been released on bail pending further investigation. The operation involved over 100 detectives and assistance from the Cybersecurity and Technology Crime Bureau.



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