Fuzhou Jin'an District Procuratorate Discloses Three Cases Involving Virtual Currency

PANews reported on October 15, citing Haixia Net, that the Fuzhou Jin'an District Procuratorate disclosed three cases involving virtual currency. First, Liu Moujia and others, knowing the funds were proceeds of telecom fraud, still set up a money-laundering channel of "buying baijiu to cash out + USDT transfers," transferring a total of 210,000 yuan, and were sentenced to three years and seven months and one year and five months in prison for concealing and disguising criminal proceeds. Second, Zheng Mouyi and others carried out a "black eats black" robbery under the guise of offline USDT trading, spraying merchants with pepper spray before robbing more than 40,000 USDT; five people were sentenced to five years and seven months to ten years and four months for robbery. Third, Wang Moumou illegally absorbed more than 6.28 million yuan from over 30 people under the name of "guaranteed principal and high returns from computing power mining," causing losses of more than 3.48 million yuan, and was sentenced to three years and four months for illegally absorbing public deposits.