The United States has cracked a million-dollar payment fraud case involving cryptocurrency money laundering

ChainCatcher news, according to official documents, the U.S. Attorney's Office for Northern California announced on August 13 that a large-scale payment fraud case involving cryptocurrency money laundering has been cracked. Prosecutors charged 8 suspects with hacking into the account systems of mobile shopping service platforms through phishing methods, using fake orders and digital payment cards to siphon off funds, which were then converted into cryptocurrency by purchasing gift cards, ultimately exchanging the funds for U.S. dollars. The amount involved exceeds $1 million.

All defendants have been arrested and granted bail, and will be tried on August 25 in the Oakland Federal District Court.