With cryptocurrency-related crime rising in Hong Kong, Bitrace has increased its efforts to deal with the problem. The leading data analytics company has organized training sessions on on-chain fund tracking for members of the Hong Kong Police Force.

These training sessions are specifically organized for the Cyber ​​Security and Technology Crime Bureau (CSTCB) and the Commercial Crime Bureau (CCB), including the sharing of insights and methods for investigating crimes related to electronic money.

Bitrace's technical experts also demonstrated the usage and circulation methods of digital asset funds in activities such as online gambling, illegal transactions, money laundering and fraud.

Over the past three years, Hong Kong has seen a major increase in cryptocurrency-related crimes. In fact, the number of cases increased from 1,397 to 3,415, with the corresponding amount from HKD 824 million to HKD 4,398 billion. This number almost tripled during the period in question.

Meanwhile, Hong Kong is currently on the verge of approving Bitcoin ETFs in the region. SFC updated its list of virtual asset fund managers on April 10, including the addition of Harvest International Asset Management Company and China Asset Management (Hong Kong) Co., Ltd., two fund companies. Big public from mainland.