Virtual currency payment processors provide money laundering services for fraud gangs, and Hefei police have arrested criminal suspects across provinces

According to reports from Zhong'an Online, the Hefei Xinzhan Public Security Bureau discovered that a virtual currency exchanger was providing money laundering services for a fraud gang while handling a telecom network fraud case involving 260,000 yuan. On January 15, 2026, the police arrested the suspect Liu in Sichuan.

Investigation revealed that Liu had been engaged in virtual currency trading since 2020, contacting upstream buyers through overseas chat software and conducting transactions with fraudsters on illegal trading platforms. In June 2025, after selling virtual currency on an illegal platform, Liu withdrew the illicit funds that were transferred to his account to his personal WeChat account, which is suspected of concealing and disguising criminal proceeds. The case is currently under further investigation.