TechFlow news, on September 2, according to the Yueyang Public Security official account, local police successfully cracked a major cryptocurrency money laundering case. The criminal gang, under the guise of a "blockchain over-the-counter trading merchant," provided money laundering channels for illegal funds from overseas online gambling, telecom fraud, and other illicit activities by purchasing USDT stablecoins at 0.8 RMB above market price. Since July 2024, the gang had established a four-tier money laundering network, processing approximately 170 million RMB in illegal funds across more than 20 provinces and cities nationwide. So far, police have arrested 15 suspects, and the case is under further investigation.
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