Hong Kong police have dismantled a scam operation targeting mainland Chinese students abroad. The fraudsters impersonated mainland officials, luring victims to Hong Kong to purchase gold pellets as a security deposit. These gold pellets were then melted down and converted into cash or cryptocurrency to launder the funds. Since the beginning of the year, police have received seven reports of similar scams, with a total amount involved of approximately 7 million HKD. Authorities have arrested four suspects connected to the scam and have recovered around 5 million HKD in stolen funds and assets. The operation highlights ongoing efforts to combat financial crimes involving cryptocurrency and cross-border fraud.