Wuhan Public Security Bureau cracks down on virtual currency money laundering case involving as much as 1 billion yuan in funds.

According to a report from CCTV News on November 21, the Wuchang District Branch of the Wuhan Public Security Bureau successfully dismantled a criminal gang involved in money laundering using virtual currency. This was achieved through the joint efforts of the "Intelligence, Indication, and Action" integrated center, the law enforcement case management center, and the synthetic combat center, as well as 7 arrest teams deployed to Sichuan Deyang, Jilin Changchun, Guangdong Dongguan and other provinces and cities. 27 suspects were arrested and detained in accordance with the law, and the amount of funds involved in the accounts controlled by the gang reached 1 billion yuan. Investigation shows that since April this year, the suspects have used the "Airplane" software to contact their "uplines" to receive tasks, and then used the proceeds from their fraudulent activities to purchase digital virtual currency on the Internet, which was then transferred to the upline's account to help the fraud gang launder money and obtain a commission. Preliminary statistics show that this money laundering gang was involved in as much as 1 billion yuan. The case is currently under further investigation.