Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened

By CryptoNews - 1 year ago - Reading Time: 1 minutes

Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened

Police in China arrested 63 people accused of laundering ¥12 billion ($1.72 billion) via crypto.
The Public Security Bureau of Inner Mongolia’s Tongliao city in northern China stated that starting from May 2021, this criminal group converted the proceeds from illicit sources – including pyramid schemes, fraud, and gambling - into the major stablecoin Tether (USDT)....
Read More: Group Arrested in China for Laundering $1.7 Billion in Cryptocurrency – This is What Happened

Original source: CryptoNews