Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
In Inner Mongolia, a region in China, police have arrested 63 people in connection with an alleged conspiracy to launder more than 12 billion yuan ($1.7 billion). This demonstrates the opacity of China’s cryptocurrency industry, with 63 people jailed in Inner Mongolia, a northern Chinese region, for laundering 12 billion yuan (US$1.7 billion) in cryptocurrencies.
Police in China dismantles billion-dollar crypto money laundering operation
Inner Mongolian police have detained sixty- 3 people in connection with an alleged conspiracy to l… https://t.co/IE8woA3DAj #Crypto #Crypto.news #Cryptocurrency #Wallet #cryptonews pic.twitter.com/j782uhoYpb
— Lola Coin (@LolaCoinOrg) December 12, 2022
It is worth remembering that the crypto group began collecting illegal assets through online Ponzi schemes, fraud, and gambling in May 2021. Eventually, they used the money to buy Tether, a stable coin that is linked 1:1 to the US dollar.
Ponzi schemes are everywhere in communist China!!! pic.twitter.com/gy22K9fEHd
— NFSC_HAGnews (@NFSC_HAGnews) August 17, 2022
According to a statement released by the Public Security Bureau of Tongliao City in Inner Mongolia over the weekend, the funds were divided across several,…
