Hong Kong Police Break Up Cryptocurrency Lending Fraud Case, 6 Arrested, Amount Involved Approximately 5 Million Hong Kong Dollars

ZkProver · 2026-03-18T09:09:19+00:00

Hong Kong police arrested 6 men and women suspected of fraud under the guise of low-interest loans in "Operation Thunder Drum." Some of the suspects have triad backgrounds. The fraud group posed as fake bank employees to market loans and deceived victims into paying deposits. The losses involved amount to approximately 5 million Hong Kong dollars. The investigation is still ongoing.

ZkProver

2026-03-18 09:09:19

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ChainCatcher reports that 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 cryptocurrency. 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 calling victims randomly, impersonating bank staff to promote low-interest loans, luring victims to sign contracts at a fake office rented under a shell company in Central, and demanding 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 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.

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