Chongqing concludes a virtual currency money laundering case involving more than 2.25 billion yuan.

According to BlockBeats News on November 2nd, the Chongqing Tongliang Court announced that it had concluded a case on October 24th involving the transfer of funds to overseas criminal groups, with a total amount of over 2.25 billion yuan and 21 people sentenced. The defendants received USDT from upstream criminals who committed crimes such as online fraud and online gambling, and then sold them on virtual currency trading platforms. They organized members of the gang to withdraw cash from bank counters in various provinces and cities under the guise of extracting engineering funds and workers' wages, and delivered the cash to designated recipients. Jiang and others transferred a total of over 2.25 billion yuan in funds overseas in this way, with accumulated profits of over 22.62 million yuan. The Tongliang Court held that the defendant's behavior of cashing out RMB through virtual currency transactions and transferring funds, with a total amount of over 2.25 billion yuan, was serious and should be held criminally responsible for concealing and hiding the proceeds of crime and the proceeds of crime.