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Hong Kong law enforcement authorities launched Operation "Drill Front" to combat crypto fraud, involving a total amount of HK$180 million.

Hong Kong law enforcement agencies conducted the "Diamond Shield" operation from November 5th to 11th to crack down on online investment scams. A total of 223 people were arrested, including 157 men and 66 women, who are suspected of committing crimes such as "obtaining property by deception", "fraud" and "money laundering", with ages ranging from 18 to 69 years old, involving 265 cases with a total amount of HK$180 million. During the operation, about HK$3 million in criminal proceeds were successfully frozen, and a large number of mobile phones, bank documents, and withdrawal cards were seized. There were a total of 328 victims in the case, including 143 men and 185 women, with ages ranging from 19 to 80 years old. One of the female victims was an 80-year-old engineer who had worked in elevator design. She was deceived by fraudsters posing as a senior analyst of digital assets in a bank and eventually lost over HK$9.1 million in virtual currency investment.

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