Gate News reports that on March 18, Hong Kong police launched Operation “Thunder Drum” targeting a cryptocurrency scam group that used low-interest loans as a pretext to collect deposits. Within two days, six people (3 men and 3 women, aged 29 to 63) were arrested across various districts in Hong Kong on suspicion of conspiracy to commit fraud. Some suspects have triad backgrounds, and the operation is ongoing.
The scam group has been operating since November 2025, calling victims randomly and impersonating bank staff to promote low-interest loans. They lure victims to sign contracts at a fake office in Central rented under a shell company and demand deposits as proof of assets. Payment methods include cash, bank transfers to dummy accounts, and cryptocurrency payments, with the latter mainly targeting older or less tech-savvy individuals.
A total of 13 victims are involved, with diverse backgrounds, some holding college or master’s degrees, including businesspeople and company owners. The total loss is approximately HKD 5 million. Police recovered multiple documents and computers at the scene.
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