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Putian Hanjiang Prosecutors Sentence Virtual Currency Underground Forex Case, Involved Funds Exceeding 13.3 Billion Yuan
Summary: According to reports, the Hanjiang District People's Procuratorate handled a virtual currency-related criminal case this year. Individuals such as Yan, Zheng, and Lin used USDT to establish an underground forex trading network, soliciting customers through overseas chat apps, illegally exchanging RMB and foreign currency using 'U coins' as a medium. The funds involved in the ...
According to reports, the Hanjiang District People's Procuratorate handled a virtual currency-related criminal case this year. Individuals such as Yan, Zheng, and Lin used USDT to establish an underground forex trading network, soliciting customers through overseas chat apps, illegally exchanging RMB and foreign currency using 'U coins' as a medium. The funds involved in the case exceeded 13.3 billion yuan, with illegal forex transactions amounting to 25.62 million yuan. They withdrew over 478 million yuan in cash from multiple banks to purchase 'U coins' and transfer them to upstream criminal wallets. In the end, the court sentenced 15 defendants to 8 months to 3 years in prison for illegal business operations and aiding cybercrime activities, along with fines. (Putian News)
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Link: Putian Hanjiang Prosecutors Sentence Virtual Currency Underground Forex Case, Involved Funds Exceeding 13.3 Billion Yuan [Copy]
