Skip to Primary Navigation

Chinese arrest 63 people for laundering 12bn yuan in crypto

Photo: Getty Images

The criminal gang helped both domestic and foreign criminals to launder money in digital assets.

Chinese authorities, operating out of the Mongolian city of Tonglio, have arrested 63 people involved in a massive money laundering scheme. The criminal group allegedly laundered 12bn Chinese yuan ($1.7bn) in tether stablecoin (USDT), and was helping both domestic and foreign criminal groups to launder money by using digital virtual

According