According to ChainCatcher, the Beijing Municipal Public Security Bureau has cracked down on an underground money laundering gang that committed money laundering crimes through virtual currency transactions. Currently, the four main suspects involved in the case have been approved for arrest by the procuratorate for suspected illegal business operations.

After investigation, it was found that the main member of the gang, Lv, obtained foreign nationality many years ago. While living abroad, he found that he could transfer RMB from China to foreign countries and exchange it for foreign currency through virtual currency transactions. Later, Lv, together with Chen and others, used the virtual currency trading platform to assist domestic personnel who intended to transfer funds to purchase virtual currency in large quantities, thereby transferring funds to foreign countries. The amount involved in the case was about 800 million yuan. At the same time, the police found that the gang had provided funding channels and transferred the stolen money involved in many telecommunications fraud cases and embezzlement cases.