According to Foresight News, Fuzhou police discovered clues of a case that provided fund transfer and payment settlement for online fraud and other black and gray industry platforms. The amount involved was huge, and a special task force was quickly set up to investigate.
The police found out that the gang operated a third-party payment platform and used virtual currency stablecoins to provide fund transfer payments for illegal futures platforms, and earned commissions from it.
In July 2024, the Fuzhou police organized elite police forces to carry out a unified roundup operation in various places and arrested 11 criminal suspects headed by Pan Moumou.
