A criminal gang conducted illegal foreign exchange business through virtual currency matching, involving a total amount of over 3.9 billion yuan.

BlockBeats News, May 16th. According to Red Star News, on May 15th, the Sichuan Province Public Security Bureau of China publicly released 10 typical cases of economic crimes, including the "2•6" illegal operation (forex) case. In this case, since August 2021, Fan, He, Chen, and others in Chengdu successively established studios, technology consulting companies, used social networking software to conduct targeted customer diversion, colluded with domestic agents of overseas currency exchange institutions, and provided RMB cross-border illegal remittance services through methods such as overseas gift card cash out and virtual currency wash trading, involving a total amount of over 3.9 billion RMB.

The case successfully arrested 21 criminal suspects and is scheduled to conclude the investigation by December 2024 and transfer it for review and prosecution.