Tokyo Hong Kong Yen Heist Surges, Cryptocurrency Exchange Shop Staff Arrested for Alleged Embezzlement

February 1 – According to Caixin, in less than 24 hours between January 29 and 30, two large-scale robberies targeting cash in Japanese yen occurred in Tokyo, Japan, and Hong Kong, China—cities traditionally viewed as safe. The Tokyo case involved approximately 420 million yen (roughly 19 million Chinese yuan), while the Hong Kong robbery netted around 51 million yen (about 2.29 million Chinese yuan). Within six hours of the incidents, Hong Kong police arrested three robbery suspects who were trying to leave the country at Hong Kong International Airport on robbery charges. Officers also detained two store employees at a crypto exchange shop in Tsim Sha Tsui: a 28-year-old local man and a 29-year-old man from mainland China. The pair is suspected of helping the robbers launder part of the stolen cash. Initial intelligence suggests the linked Japanese companies may have brought yen cash to Hong Kong to exchange for Hong Kong dollars, then used the funds to buy duty-free goods to profit from the tax gap between the two regions.