The Hong Kong police and customs have established a virtual asset intelligence task force, with losses from related cases reaching HKD 2.27 billion in the first eight months of this year

ChainCatcher news, according to Hong Kong Radio, the Hong Kong Police Force announced the establishment of a "Virtual Asset Intelligence Working Group" in collaboration with Customs, financial regulatory agencies, and licensed virtual asset service providers. The aim is to strengthen the public-private collaboration network through intelligence sharing and cooperation mechanisms, enhancing the ability to respond to virtual asset crimes and related cybersecurity threats.

Police Commissioner Chow Man-kong revealed at the inauguration ceremony that a total of 1,463 virtual asset-related cases were recorded in the first eight months of this year. Although the number of cases decreased by 16% year-on-year, the amount of losses involved reached HKD 2.27 billion, an increase of 5% compared to the same period last year.