PANews reported on April 26 that, according to Hong Kong's Wen Wei Po, Hong Kong police have busted a cross-border fraud syndicate. The gang impersonated law enforcement officials and targeted mainland students studying overseas, coercing them to go to Hong Kong to buy gold nuggets as "deposits," which they then melted down and converted into cash or cryptocurrency to launder their funds.

A total of seven cases were reported, involving approximately HK$7 million. Police launched Operation "Catch the Leader," arresting several suspects and recovering approximately HK$5 million in stolen assets. One suspect was formally charged and will appear in court, while the remaining arrestees were granted bail and are required to report to the police in early May.