TechFlow news: On February 10, according to the WeChat official account “Wangxin Jiangmen,” the Kaiping City Procuratorate handled a “money-muling” case involving virtual currencies. The criminal gang received funds obtained from telecom network fraud and other crimes, then withdrew the illicit proceeds from banks and converted them into virtual currencies to transfer to upstream fraudsters. Within just two months, over RMB 2 million in fraud-related funds were laundered. Currently, 19 suspects involved in the case have been sentenced by the Kaiping City People’s Court for the crime of concealing or disguising the proceeds of crime.
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