TechFlow reported that according to the Jinchang Intermediate People's Court, the Yongchang Court in Gansu Province sentenced two cases involving cyber fraud. Ten defendants were sentenced to fixed-term imprisonment ranging from 10 months to 1 year for assisting in information network criminal activities, and more than 1.19 million yuan of illegal gains were recovered.
Since 2022, Shen and five others have set up USDT trading studios in Hefei, Anhui and other places, and formed illegal over-the-counter trading groups through Telegram. They knew that the USDT they received came from online gambling, telecommunications fraud and other black and gray industries, but they still helped criminals to make payments and settlements at "high exchange rates".
As of the time of the incident, the defendants involved in the case had made a total profit of more than 880,000 yuan, involving more than 5.9 million yuan of funds defrauded from more than 10 victims in Chengguan Town, Yongchang County when investing in virtual currency and placing online orders. The court believes that such behavior has deviated from the simple operation of virtual currency and should be included in the key links of combating telecommunications network fraud.
