# The verdict of the virtual currency money laundering case is out! 💰

On July 26, 2024, the People's Court of Liyang City, Jiangsu Province, made a verdict on a virtual currency money laundering case. An unemployed man with the alias "Xiao Wu" was sentenced to six months in prison, suspended for one year, and fined RMB 2,000 for participating in virtual currency money laundering activities.

The case shows that in order to repay his credit card debt during college, Xiao Wu contacted the "money laundering company" through Telegram and used the "U-MATOU" APP to trade virtual currencies to earn the difference. The police investigation found that Xiao Wu's bank account had a total of 13 transactions, with an illegal profit of more than 5,000 yuan.

What do you think of the risks of virtual currency money laundering? Welcome to discuss in the comment area!