The People's Bank of China and public security organs jointly cracked a 130 million yuan virtual currency money laundering case

The People's Bank of China and public security organs jointly cracked a batch of new underground money laundering cases using virtual currency, involving a total amount of 130 million yuan. Criminal gangs use free credit card refunds as a pretext to induce the public to provide information and assist overseas gambling and telecommunications fraud gangs in money laundering. After fictitious consumption, the funds are converted into virtual currency by coin merchants and transferred to a designated address for export. The Digital Currency Research Institute of the People's Bank of China used large-scale models and on chain analysis systems to assist the public security organs in destroying more than 10 dens, and several members of the gang were sentenced. (Source: CCTV Finance)