Chengdu Public Security announced a typical case of a major underground bank that used virtual currency as a medium to transfer assets abroad, with an involved amount as high as 13.8 billion yuan

ChainCatcher news, according to Hongxing News, on the national 15th "5·15" publicity day for combating and preventing economic crimes, the economic investigation departments of the public security in Sichuan and Chongqing jointly carried out activities for the publicity day. At the event, Chengdu Public Security announced two typical cases of economic crimes. One of the cases involved a major underground bank case with an amount of up to 13.8 billion yuan, which was solved by the Chengdu Public Security Bureau. The suspects used USDT (Tether) as a medium to evade national foreign exchange supervision and illegally provided foreign exchange settlement channels. This case involves 26 provinces (cities, autonomous regions) across the country, and the public security authorities have now arrested 193 suspects nationwide.