ChainCatcher news, Yichun Gao'an police successfully dismantled a fraud gang that used "friendship investment" as a pretext to launder money through virtual currency. It was found that the suspect Yao used "bank transfers are easily restricted" as a reason to lure victims into investing by withdrawing cash and then exchanging it for virtual currency offline. The gang collected the fraudulent proceeds through offline exchanges of virtual currency and then transferred the scam funds to their superiors to illegally obtain rewards, with the amount involved exceeding 4 million yuan.