TechFlow news, on April 20, Gao'an police in Yichun successfully dismantled a fraud gang that used "investment through socializing" as a cover to launder money via virtual currencies. The suspect Yao was found to have lured victims into investing by claiming "bank transfers are easily blocked," directing them to withdraw cash and exchange it for virtual currency offline. He also collected illicit proceeds through offline virtual currency exchanges and then transferred the fraud funds to his superiors, earning illegal commissions. The total amount involved exceeded 4 million yuan.
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