On December 10, a China News reporter learned from the Horqin Branch of the Tongliao Public Security Bureau in Inner Mongolia Autonomous Region that it took the bureau 3 months to crack down on a money laundering gang using blockchain network for the exchange of digital virtual currency.
63 suspects were arrested, the amount of money laundered by this gang amounted to 12 billion yuan equivalent to more than $1.7 billion, the total amount of illegal proceeds was about 130 million yuan equivalent to about $18,6 million.
Currently, 63 offenders have been subjected to criminal coercive measures in accordance with the law, the case is being further investigated and clarified.
After investigation, this gang is a gang that uses cryptocurrency transactions to help domestic and foreign criminal groups launder money.
Starting in May 2021, the gang used overseas chat software to mass-develop personnel offline, converting funds suspected to be from online pyramid schemes, fraud, gambling and other crimes into virtual digital currency.
At the same time, this gang has established dens in many parts of the country. After “taking orders”, the money laundering task will be assigned to different money laundering teams, and the captains will recruit low-level personnel to carry out the money laundering activities.
Then register anonymous blockchain through many recruited illegal personnel. Account address is converted into RMB and paid to the elite criminal group to illegally profit from it.
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
Foxy
Coincu News
The court approved Genesis distribution plan to return $3 billion in assets to customers, overcoming…
Kraken may drop USDT in the EU due to upcoming MiCA regulations. Other exchanges adapt,…
Rumor has it that zkSync, an Ethereum scaling solution, may drop a governance token soon.…
Oklahoma crypto bill OKHB3594 safeguards residents' rights to use and self-custody digital assets, legalizes home…
Solana tops CoinGecko, boasting highest daily transactions per second (TPS). It outperforms Ethereum and Polygon,…
Bitcoin's correlation with mainstream assets, like tech stocks, is on the rise, fueled by optimism…
This website uses cookies.