Yueyang police dismantled a major virtual currency money laundering gang, involving 170 million yuan

ChainCatcher news, according to an official report, the Yueyang police organized over 70 officers to simultaneously carry out arrest operations at more than 10 locations across the city, successfully dismantling a major money laundering gang disguised as a virtual currency trading operation.

This gang used overseas encrypted chat software to post "high price for coins" advertisements, attracting "card farmers" by purchasing USDT at prices higher than the market rate, providing money laundering services for overseas gambling and fraud groups. Within six months, this gang spanned over 20 provinces and cities, laundering nearly 170 million yuan and illegally profiting over one million yuan. Currently, 15 criminal suspects have been arrested, and the case is under further investigation.