Hong Kong Police "Thunder Drum" Operation Busts Cryptocurrency Loan Fraud Case, 6 Arrested, Amount Involved Approximately HK$5 Million

Deep Tide TechFlow News, March 18 — According to Hong Kong Commercial Daily, Hong Kong police launched Operation “Thunder Drum” targeting a scam group that used low-interest loans as a pretext to collect deposits in cryptocurrencies. Within two days, six men and six 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. The operation is ongoing.

Since November 2025, the scam group has been making random calls pretending to be bank staff to promote low-interest loans, luring victims to sign contracts at a fake office rented under a shell company in Central. They also demanded deposits as proof of assets. Payment methods included cash, bank transfers to dummy accounts, and cryptocurrencies, with the latter mainly targeting older or less tech-savvy individuals.

A total of 13 victims have been identified, with diverse backgrounds, some holding college or master’s degrees, including businesspeople and company owners. The total loss amounts to approximately HKD 5 million. Police recovered multiple documents and computers at the scene.