According to BlockBeats, on December 18, according to information from China National Radio, the Economic Investigation Brigade of the Public Security Bureau of Tiedong District, Siping City, Jilin Province, China, in the process of investigating a financial fraud crime, successfully uncovered a money laundering case in which a group used the virtual currency USDT (referred to as "U coin") to help financial fraud criminals transfer stolen money by sorting out the flow of funds and digging deep into clues. The criminal gang had a clear division of labor and used various means to evade investigation during the crime.
After investigation: The suspect Liu, Zhao, Wang and others, knowing that the buyer's funds were the proceeds of financial fraud crimes, in order to profit from it, first defrauded other people's bank accounts in the name of helping others to apply for loans and using other people's bank accounts to swipe the flow to prove their repayment ability, and then used the defrauded bank accounts to receive the funds from financial fraud crimes, and then instructed the parties to go to the bank to withdraw cash and hand it all to Liu, who then handed it to Zhao and Wang, who deposited the cash into their respective bank accounts. The two helped the financial fraud criminal gang to launder money and profited from it by buying low and selling high "U coins" on the "Huobi" platform. The gang has accumulated a profit of more than 100,000 yuan from money laundering.
At present, members of the money laundering criminal gang have been taken criminal coercive measures by the public security organs, and the case is under further investigation.