30-Second Heist Nets 1 Billion Yen, Two Company Employees Robbed at Knifepoint While Exchanging Cryptocurrency in Hong Kong

Hong Kong police announced updates on Wednesday (Dec. 23) regarding a 10-billion-yen (approx. HK$50 million) armed robbery in Central, arresting 15 suspects—including the mastermind, some with ties to organized crime—and formally charging seven with "conspiracy to commit robbery." The case involves a Japanese firm operating in virtual currency and designer handbags. On Dec. 18, two company employees carrying four suitcases of yen cash planned to exchange the funds for cryptocurrency and Hong Kong dollars via a known money changer. Near Central’s New World Tower, four knife-wielding robbers snatched all the cash in under 30 seconds. Probes revealed the robbers had clear roles: some carried out the heist, others acted as lookouts, and some provided getaway vehicles. They quickly transferred the stolen cash via "cross-car" switches post-robbery, showing a sophisticated modus operandi. Police seized crime tools, clothing, and masks but are still tracking most of the stolen money. Police emphasized they believe all suspects are in custody, highlighting security risks in offline exchanges of high-value cash and cryptocurrency. The investigation remains ongoing.