Chinese police have uncovered the activities of a major criminal group allegedly involved in laundering 40 billion yuan ($5.6 billion) in cryptocurrencies.

Authorities across the country arrested 93 people, raided 10 physical locations, confiscated more than 100 electronic devices, and froze about 300 million yuan, according to police in Hengyang County, southern China’s Hunan Province.

The operation was dubbed the “Hundred Day Action.” The criminal group reportedly bought cryptocurrencies with funds from telecom and gambling scams and then exchanged the cryptocurrency for US dollars.

China banned cryptocurrency trading in September 2021 to crack down on what it calls a sector that has disrupted the economic and financial order.

Despite the ban on cryptocurrency transactions, China ranks 10th on the list of countries with the highest rate of cryptocurrency adoption in 2022. The ranking is compiled by the analytical company Сhainanalysis.

https://altcoin.ng/chinese-police-arrest-93-people-for-laundering-5-6-billion-in-crypto/

None of those arrested will get away without paying the price

They’re done for China and death sentence be like 5 and 6

Smh

99 days for the thief,1 day for the owner.you know this guy's have Zero mercy or tolerance for any form of criminality.you know that when you're caught E don be for you yet you still get mind do large scale fraud in China.

Who told you you cannot make it even with legit hustle?