Foresight News reports that according to the 21st Century Business Herald, the Shanghai Pudong Court has disclosed a case of illegal virtual currency exchange involving an amount as high as 6.5 billion yuan. Individuals including Yang and Xu manipulated accounts of 17 shell companies to transfer funds overseas using Tether as a medium, providing illegal exchange services. The gang had clear divisions of labor, with daily fund flows exceeding 10 million yuan. The case indicates that by the end of 2023, a citizen remitted money to their daughter, bypassing foreign exchange limits and using their channels to complete the currency exchange, while the criminal gang charged a service fee for profit.