Hunan police have cracked a cross-border telecom fraud case involving cryptocurrency, with an amount exceeding 4 million yuan

ChainCatcher news, Hunan police announced a major case involving cross-border telecom fraud using cryptocurrency. The case involves renting communication tools to overseas fraud gangs, with the amount involved exceeding 4 million yuan. The wallet address of the gang leader, Xia, shows that the cryptocurrency flow used for settling fraud commissions has reached over 9 million yuan, nearly 10 million yuan. The gang members mainly conduct transactions using the virtual currency USDT to evade traditional financial regulations.