Putian Hanjiang prosecutor ruled the virtual currency underground foreign exchange case, with funds involved exceeding 13.3 billion yuan

Odaily Planet Daily News: Hanjiang District People's Procuratorate handles a virtual currency-related criminal case this year. Yan Moumou, Zheng Moumou, Lin Moumou and others used USDT to build an underground foreign exchange trading network, solicited customers through overseas chat software, and illegally exchanged RMB and foreign currencies with "U coins" as a medium. The bank account flow involved exceeded 13.3 billion yuan, the amount of illegal foreign exchange transactions reached 25.62 million yuan, and withdrew more than 478 million yuan in cash from banks in many places to purchase "U coins" and transfer it to the upstream criminal wallet. In the end, the court sentenced 15 defendants to fixed-term imprisonment ranging from 8 months to 3 years for the crime of illegal business operations and the crime of helping with information cybercrime activities. (Putian.com)