TechFlow News: On February 4, according to the WeChat official account “Chang’an Sword” of the Central Political and Legal Affairs Commission, law enforcement authorities warned that a new type of fraud—“offline cash withdrawal + online fraud”—has emerged ahead of the Spring Festival, coinciding with the peak season for gold consumption. In this scam, victims purchase gold at jewelry stores and mail it to designated locations. Fraudsters then dispatch disguised “money mules” (also known as “couriers”) to collect the packages from delivery personnel. Multiple “money mules” relay the package, with the final courier taking the gold to a gold recycling shop for resale; the resulting cash is then delivered to a location specified by the fraudsters. Alternatively, some fraudsters instruct the “money mules” to exchange the gold for cryptocurrency through cryptocurrency dealers, depositing the funds into designated accounts. Using blockchain technology, the fraudsters subsequently enable global circulation and use of the cryptocurrency. Once successful, the fraudsters achieve both theft of gold and money laundering.
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