TechFlow news, according to Qingdao Evening News, police in Jiaozhou City, Shandong Province have successfully cracked a case involving money laundering using the virtual currency USDT, with over 8 million yuan involved. Nine suspects have been arrested, and the case is about to enter the prosecution review stage.
It was reported that in February this year, Madian Police Station of Jiaozhou Public Security Bureau discovered that Xue Mou, Kuang Mou, and others had registered a company under the guise of "overseas study" services to open corporate bank accounts, assisting criminals in money laundering. The criminal gang purchased business licenses and corporate accounts to convert illicit funds into USDT, earning commissions from the transactions.
Authorities warn citizens never to lend identity documents, bank cards, or corporate accounts bearing their personal information to others, as these may be exploited for illegal and criminal activities.
