According to Foresight News, Fuzhou police recently discovered a significant case involving the transfer and settlement of funds for online fraud and other illicit activities. The investigation revealed that a criminal group was operating a fourth-party payment platform, utilizing stablecoins to facilitate fund transfers for illegal futures trading platforms, earning commissions in the process.

In July 2024, Fuzhou police organized a coordinated operation across various locations, resulting in the arrest of 11 suspects, including the ringleader identified as Pan. The police had formed a special task force to investigate the case, successfully uncovering the criminal network and its operations. The investigation highlighted the use of virtual currencies in the illegal financial activities, emphasizing the need for stringent monitoring and regulation of such platforms to prevent similar crimes in the future.