Crypto scammers who lured their victims with promises of love have been caught.

The security vulnerabilities in the cryptocurrency world have come to the forefront again with a new fraud case. The "Secret Word" operation conducted by the Hong Kong police uncovered a sophisticated network that combines romance scams and cryptocurrency fraud. The incident highlights the rise of global cryptocurrency fraud and calls on investors to be more cautious.

International Cryptocurrency Network Dismantled

The operation carried out in Hong Kong revealed a major fraud case that shook the cryptocurrency world. According to a local news source, police teams arrested 27 suspects. These suspects lured their victims into cryptocurrency investments through online romance scams for about a year.

More than 100 police officers were assigned to the operation. During the raids, luxury watches and over 25,742 USD in cash were seized. Among the confiscated items are watches worth 257,400 USD and a gold watch valued at approximately 38,600 USD.

Police inspector Iu Wing Kan stated at a press conference that the fraud gang operated very secretly and requested victims to conduct transactions with cryptocurrencies, avoiding any connection with bank accounts. This made it even more difficult for the police to track the proceeds of crime.

The international dimension of the incident is also noteworthy. The police announced that among the victims were not only residents of Hong Kong but also individuals from India, Singapore, and Malaysia.