Hong Kong Builds Crypto Tracker to Catch Laundered Money

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Hong Kong Builds Crypto Tracker to Catch Laundered Money

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 12, 2025

Key Takeaways

Hong Kong is building a crypto-tracking tool with Hong Kong University to fight digital money laundering;
Authorities handled 39 major laundering cases since 2021, where seven involved crypto use;
One case saw HK$1.8 billion transferred through shady crypto-linked deals, and three suspects were arrested.

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Hong Kong Builds Crypto Tracker to Catch Laundered Money

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Hong Kong is stepping up efforts to fight money laundering involving cryptocurrencies.

The city’s Customs and Excise Department has partnered with the University of Hong Kong to develop a tool that tracks suspicious cryptocurrency transactions.

According to a June 12 report by the South China Morning Post, the goal is to help officials identify and investigate digital money trails that may be used to conceal illicit funds.

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During a press briefing, Assistant Commissioner Mario Wong Ho-yin explained that tackling these crimes requires a joint effort from law enforcement, finance experts, and academic researchers, since no single group can manage it alone.

Wong did not share technical details about how the crypto-tracking system works, as he noted that the project is still under development. However, the focus is to bring data, research, and cooperation to improve how digital crimes are handled.

Between 2021 and May 2025, Hong Kong authorities handled 39 large-scale money laundering cases. Out of those, seven involved crypto.

According to the report, over HK$1.8 billion (about US$229 million) was transferred through more than 1,000 shady transactions, which involved five companies and 18 local bank accounts. Three people were arrested, and two were suspected of transferring HK$760 million through a crypto platform.

In a separate case, authorities in Hong Kong, in cooperation with Chinese police, recently shut down a cryptocurrency-based money laundering operation. How did the raid unfold? Read the full story.