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Police in China Crack USDT Money Laundering Scheme and Arrest 21 Suspects

Police in Qingshui County, Jincheng City, Shanxi Province, China have successfully cracked a fraud case involving money laundering through the use of the virtual currency USDT. The operation resulted in the arrest of 21 suspects, the seizure of more than 40 mobile phones, and the confiscation of more than 200,000 yuan in cash and more than 1 million yuan worth of USDT.

The suspects were accused of using the virtual currency to launder money for online criminals across four provinces and six cities. The case was cracked after police noticed irregularities in the bank account of one of the suspects, and an investigation revealed the use of "run score" money laundering.

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