Three people were arrested on the spot for illegally trading USDT for telecom fraud!
According to Crypto.News, on April 28, as reported by the web3 Radar public account, the Criminal Investigation Brigade of the Nancheng County Public Security Bureau, with strong support from the Integrated Operation Center and the Special Patrol Police Brigade, arrested three suspects, Huang, Xiao, and Lai, who were selling Tether (referred to as U currency) offline.
This gang used the Telegram app (commonly known as 'plane') to contact overseas scammers, agreeing to exchange U currency in Nancheng County on the same day. The gang, fully aware that the funds used to purchase U currency originated from online gambling and telecom fraud, still helped the telecom fraudsters conduct payment settlements between Tether and RMB at a 'high exchange rate'.
Upon investigation, the exchanged RMB was the defrauded money from victims of telecom fraud in Nancheng County. The gang was caught on the spot during the U currency exchange process, timely recovering over 300,000 for the public. Currently, all members of the gang have been criminally detained by the Nancheng County Public Security Bureau on suspicion of aiding information network crime activities.
