Wu said that he learned that the Qingdao police successfully cracked a case of money laundering using the virtual currency USDT, involving an amount of more than 8 million yuan. The police arrested 9 suspects involved in the case, and the case is about to enter the review and prosecution stage. In February of this year, the Madian Police Station of the Jiaozhou Public Security Bureau arrested a fugitive named Xue who was suspected of telecommunications fraud and found that he had a suspicious "cooperation" relationship with another man named Kuang. After an in-depth investigation, the police found that Xue, Kuang and others used registered "study abroad" companies to handle public accounts to assist criminals in money laundering. The criminal gang purchased business licenses and public accounts, converted the illegally obtained funds into USDT, and took a commission to make a profit.