The Sun Wu Court is hearing a case involving virtual currency fraud and money laundering, with the wallet transactions exceeding 30 million USDT
ChainCatcher news, according to the official WeChat account of Sunwu County People's Court, the Sunwu Court is hearing a case involving fraud and money laundering through over-the-counter trading of virtual currency. The individuals involved used two wallets to transact 30,396,278.76 U coins, engaging in nearly 10,000 U coin transactions with multiple parties, involving nearly 10,000 receiving accounts, with a total transaction amount reaching 120 million yuan. The virtual currency funds they handled were used in 7 telecom network fraud cases to gain the victims' trust, transferring funds back to the victims, or directly or indirectly receiving accounts of the fraud proceeds.The Sunwu Court lawfully sentenced the individuals involved for concealing and disguising criminal proceeds, imposing corresponding penalties and fines, and confiscating all their illegal gains.