Hubei Luotian Police Dismantle USDT Money Laundering Chain, Involving Over 1 Million Yuan

Techub News reports that police in Luotian, Huanggang, Hubei Province recently dismantled a criminal chain providing money laundering services for overseas telecom fraud gangs, arresting 6 suspects. The gang collected fraud-related funds offline through a "cash withdrawal fleet," which were then exchanged into USDT by "U coin cashiers" and transferred to overseas personnel. Police stated that the gang conducted 28 cash withdrawals around Wuhan, with the total amount involved exceeding 1 million yuan. Currently, core member Liu is suspected of illegally using information networks, while other members are suspected of concealing criminal proceeds and have been criminally detained according to law. The case is still under investigation.