Heilongjiang Court Ruling on USDT Resale Case, Defendant Sentenced to One Year and Eight Months
The Yian County Court in Qiqihar City, Heilongjiang recently heard a USDT (a type of virtual currency) resale case. The defendant, Wang, was sentenced to one year and eight months in prison and fined 15,000 yuan for helping others launder money.
Wang learned from a friend that buying and selling USDT could be profitable, so he began using multiple bank cards to receive transaction funds, including more than 560,000 yuan of fraudulent funds. He unlawfully profited 60,000 yuan but spent it all.
The court pointed out that virtual currencies are often used by criminals for money laundering. The public should remain vigilant and not commit crimes for small gains.
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