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AN XXL Labubu doll worth more than £100,000 was uncovered by Hong Kong police during a major raid on Tuesday morning.
A gang suspected of laundering £4 billion had been under watch for two and a half years, and during their bust, the police were surprised to discover a giant plush toy among their seized items.
The goods that the police confiscated were linked to the Triad syndicate, which is known as one of the oldest and most infamous criminal organizations in China, according to the South Morning China Post.
On Tuesday, Hong Kong police executed a major raid. They announced on a post on X: “When the time was ripe – the HKPF mounted the territory-wide anti-triad ‘Operation HIDDENARROW’ on July 29, 2025.”
The force reportedly seized €780,000 in cash, 11,000 bottles of wine, luxury watches, gold and a 5ft2 Labubu doll.
The figure is said to be rare – one of fifteen of its kind in the world.
A similar piece went under the hammer in Beijing in June for around £113,000.
As many as 82 suspects were reportedly arrested during the operation – 55 men and 27 women, ranging in age from 19 to 78.
Among them was the alleged 44-year-old ringleader.
He is suspected of running the operation and involving friends and family in the money laundering scheme.
In a post on X, police detailed that the gang leader had involved his family, friends, and gang members in laundering the proceeds of their crimes through strategic methods.
The police described these methods as “continuously laundering the illicit funds via a trust company” and engaging in “#LoanFraud by using some seemingly lawful import trades as disguises.”
The gang’s funds came from prostitution, drug trafficking and illegal gambling, according to police.
Police said they froze assets worth around £115 million.
It’s still unclear whether the criminal group was banking on the Labubu doll’s value rising or simply fans of the character.
It’s also uncertain if the toy is genuine or a fake.
Labubus have taken the internet by storm – with Chinese toymaker Pop Mart’s valuation skyrocketing to £31.6bn.
The cult collectable dolls have been spotted dangling from the designer bags of Rihanna, Kim Kardashian and David Beckham.
Meanwhile, former England football captain David Beckham shared that his 13-year-old daughter Harper had gifted him a rare “secret” edition character, showcasing a photo of the item.
Kim Kardashian posted a shot of her collection, while former Love Island star Olivia even had a Labubu-themed birthday party.
What is the Labubu doll craze?
LABUBU is a brand of plushies designed by Hong Kong-born artist Kasing Lung.
The brand made its debut in 2015, but skyrocketed in global popularity after hitting Pop Mart shelves in 2019.
Pop Mart is a Chinese toy retailer, known for its collectable designer models that are often sold in a blind box format.
The company has a stock market value of over £31.6bn.
After mammoth success overseas, the Labubu craze has made its way to the UK.
The first three months of 2025 were wildly successful for the brand, with Brits searching high and low to nab one of the quirky figurines.
In June, Labubu sales in the US went up by 5,000% compared to the year before, according to estimates from equity research firm M Science.
But Labubu’s popularity has led to a rise in counterfeits – sometimes referred to as Lafufu dolls.
