According to BlockBeats, on October 8, the Xiamen Public Security Bureau's Xiang'an Branch, in collaboration with relevant police departments, successfully dismantled an underground money laundering syndicate that utilized four-party payment systems for cash withdrawals.

The syndicate operated across multiple regions in China, advertising their money laundering services through chat software to attract clients. They provided illegal fund settlement services to overseas criminal groups using methods such as cashing out virtual currencies and cross-trading. The amount of money involved in these activities was substantial. Currently, nine suspects have been taken into criminal custody on charges of illegal business operations and assisting in information network criminal activities. The investigation is ongoing.