Sichuan cracked down on a major illegal cross-border remittance case worth 3.9 billion yuan involving virtual coin wash trading.

2025-05-16 05:34:46

Gate News bot news, Chuan Observer reports that the Sichuan Public Security recently announced 10 typical cases of economic crime. Among them, the “2•6” illegal operation (forex) case shows that Fan, He, and Chen, among others, set up a studio and technology consulting company in Chengdu in August 2021, using Social Web software to draw attention to clients. The criminal gang cooperated with domestic agents of overseas exchange institutions, using overseas gift cards for cash withdrawal and virtual coin matching methods to provide illegal cross-border RMB exchange services, involving an amount of over 3.9 billion yuan.

The case was completed in December 2024 and transferred for review and prosecution, with a total of 21 criminal suspects arrested.

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