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News

China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

September 26, 2022 - Around 2 mins mins to read
On September 23, 2022, the Hengyang County Public Security Bureau in China held a news conference to highlight the “100-day operation” of the summer public security crackdown.
China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

According to crypto reporter Colin Wu, who cited Weixin on September 26, nine cases were publicly published, including the “9.15” large money laundering gang, which is accused of using cryptocurrency to deal with money laundering of up to 40 billion yuan ($5.6 billion) and has been involved in over 300 incidents of tele-trafficking.

The entire money-laundering criminal organization led by Hong Mou was disrupted in an online operation that resulted in the arrest of 93 suspects, the destruction of more than ten money-laundering and hiding points, the seizure and freezing of 300 million yuan in funds connected to the case, and the recovery of 7.8 million yuan in economic losses suffered by the victims.

According to another local story, Chinese officials also disrupted a money laundering scheme in Fujian in which thieves utilized digital yuan to launder 200 million yuan.

As CoinCu reported, the illicit enterprise was directed by Zhang Moumou and Lai Moumou. They exploited the national digital money to support criminal activities like gambling, fraud, and so on.

China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

The Chinese government is attempting to boost digital yuan use by spreading the currency into four more provinces: Guangdong, Jiangsu, Hebei, and Sichuan.

Criminal coercive proceedings have been initiated against 93 people, including Hong Mou, in accordance with the law, and the matter is currently being handled.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

9.15

CBDC

China

crypto

Digital yuan

Launder Money

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

On September 23, 2022, the Hengyang County Public Security Bureau in China held a news conference to highlight the “100-day operation” of the summer public security crackdown.
China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

According to crypto reporter Colin Wu, who cited Weixin on September 26, nine cases were publicly published, including the “9.15” large money laundering gang, which is accused of using cryptocurrency to deal with money laundering of up to 40 billion yuan ($5.6 billion) and has been involved in over 300 incidents of tele-trafficking.

The entire money-laundering criminal organization led by Hong Mou was disrupted in an online operation that resulted in the arrest of 93 suspects, the destruction of more than ten money-laundering and hiding points, the seizure and freezing of 300 million yuan in funds connected to the case, and the recovery of 7.8 million yuan in economic losses suffered by the victims.

According to another local story, Chinese officials also disrupted a money laundering scheme in Fujian in which thieves utilized digital yuan to launder 200 million yuan.

As CoinCu reported, the illicit enterprise was directed by Zhang Moumou and Lai Moumou. They exploited the national digital money to support criminal activities like gambling, fraud, and so on.

China Arrests 93 People Suspected Of Laundering $5,6 Billion In Crypto

The Chinese government is attempting to boost digital yuan use by spreading the currency into four more provinces: Guangdong, Jiangsu, Hebei, and Sichuan.

Criminal coercive proceedings have been initiated against 93 people, including Hong Mou, in accordance with the law, and the matter is currently being handled.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News