According to Odaily, Hong Kong police have dismantled a local fraud syndicate, arresting 27 individuals suspected of defrauding numerous local and overseas victims over the past year, with the total amount of fraud reaching HKD 360 million. Superintendent Yiu Wing-kin of the New Territories South Regional Crime Headquarters stated that the police received intelligence about the syndicate in August this year. After a two-month investigation, they identified the syndicate's operational center and members. On the 9th of this month, the police launched an operation codenamed 'Dark Language,' involving over 100 detectives from the New Territories South Regional Crime Unit, with assistance from the Cyber Security and Technology Crime Bureau for network and cryptocurrency transaction evidence collection.

Yiu described the syndicate as highly secretive, with tight security around their premises. The syndicate required victims to use highly private cryptocurrency transactions, avoiding any bank accounts, which made it more challenging for the police to trace the proceeds of the crime. However, following this arrest operation, the police believe they have successfully dismantled this large and highly organized fraud syndicate. He also noted that the syndicate primarily used online romance scams to lure victims into investing in cryptocurrency. To facilitate these scams, the syndicate employed technology experts, including graduates majoring in digital media from local universities, for technical support, and collaborated with overseas fraudsters to set up a fake cryptocurrency platform.