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Source: CCTV News Client Recently, the Public Security Bureau of Qinshui County, Jincheng City, Shanxi Province successfully uncovered a fraud case involving the use of virtual currency USDT for money laundering. 21 criminal suspects were arrested, more than 40 mobile phones were seized, more than 200,000 yuan in cash was seized, and USDT worth more than 1 million yuan was seized. On April 1, 2023, when checking clues, the Qinshui police discovered that Zhao, a resident of Longgang Town, Qinshui County, had abnormal fund flow in an account under a bank's name, and was suspected of "running points" for money laundering. The police immediately launched an in-depth investigation. After analysis, judgment and careful investigation, they found that this was an illegal and criminal case of using the virtual currency USDT to launder money and commit fraud. This case involves a large number of people, covering 4 provinces and 6 cities including Guangxi, Jiangxi, Henan, and Anhui, and the personnel composition is complex. In order to severely crack down on illegal crimes, Qinshui police immediately deployed more than 50 capable police officers to form three arrest teams and went to various places to carry out arrests. After continuous fighting, the police successfully arrested all 21 suspects involved in the case, seized more than 40 mobile phones on site, seized more than 200,000 yuan in cash, and seized USDT worth more than 1 million yuan. So far, this criminal gang that used the virtual currency USDT to launder money has been successfully eliminated. After interrogation, the 21 suspects confessed to the crime of using virtual currency USDT to launder money for information network criminals. After investigation, since October 2021, Zhou has established a USDT over-the-counter trading group, purchased USDT at a low price, and then sold it at a high price through WeChat groups and benchmarking platforms to help criminals use information to make payments between USDT and RMB. Settlement and illegal profit making. After legal review, the criminal group helped criminals who used information networks to pay and settle more than 54.8 million USDT, equivalent to about 380 million yuan. According to the policeman handling the case, the so-called "running score" is a "money laundering" technique, that is, using one's own bank card, POS machine, WeChat or Alipay payment QR code, and virtual currency account to collect money for others, and then transfer it to others. The illegal act of entering a designated account and earning commissions from it. USDT is a blockchain virtual currency issued by a foreign company. Due to its convenient transactions and anonymity, it has become the first choice for virtual currency benchmarking platforms. As of now, 21 criminal suspects in this case have been subject to criminal compulsory measures in accordance with the law, and the case is under further investigation.