A sophisticated $160 million cryptocurrency money laundering network has been uncovered behind VerilyHK, a Hong Kong-based health technology investment platform. Despite its claims of expertise in AI health and big data analytics, VerilyHK has been identified as a front for a large-scale Ponzi scheme, with operations ceasing in February 2026. The platform's on-chain trading volume reached approximately $1.6 billion, surpassing other notorious crypto schemes like Forsage and NovaTech. Investigations revealed a complex multi-layered fund routing system involving TRON USDT stablecoin flows. VerilyHK utilized a series of rotating hot wallets and intermediate addresses to obscure fund origins, ultimately converging at centralized exchange exits. Notably, connections were found between VerilyHK's fund routing infrastructure and Huione Group, a Cambodian entity flagged by U.S. FinCEN for money laundering activities. This discovery highlights the intricate methods employed by VerilyHK to launder funds through cryptocurrency channels.