Chinese police cracked down on a criminal group that was involved in the illegal exchange of yuan and South Korean won worth $295.8 million.
The criminals used cryptocurrencies to circumvent currency controls and conceal their operations.
The criminal group operated under the guise of a legitimate business, but actually carried out illegal currency transactions. To exchange currencies, they used over-the-counter trading of cryptocurrencies, settlements in won and other methods.
“A ‘clue’ for law enforcers was the abnormal flow of daily transactions through the accounts of the two suspects, which included various counterparties. Read the original article – https://forklog.com/news/v-kitae-raskryli-shemu-nezakonnogo-vyvoda-295-mln-cherez-kriptovalyuty.
