Deep Tide TechFlow News, February 10 — According to China Security Online, Hefei Xinzhan Public Security recently successfully cracked a case involving the use of virtual currency to launder money for a telecom fraud gang, and arrested suspect Liu. Upon investigation, Liu has been in contact with telecom fraudsters via overseas chat software since 2020, frequently engaging in virtual currency trading on multiple illegal trading platforms to transfer illicit funds for the scam gang. In June 2025, Liu received and transferred 260,000 yuan of stolen funds from a victim.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Hefei police solve virtual currency money laundering case, suspects provided fund transfer services for a telecom fraud gang
Deep Tide TechFlow News, February 10 — According to China Security Online, Hefei Xinzhan Public Security recently successfully cracked a case involving the use of virtual currency to launder money for a telecom fraud gang, and arrested suspect Liu. Upon investigation, Liu has been in contact with telecom fraudsters via overseas chat software since 2020, frequently engaging in virtual currency trading on multiple illegal trading platforms to transfer illicit funds for the scam gang. In June 2025, Liu received and transferred 260,000 yuan of stolen funds from a victim.