#稳定币监管风暴 Shanghai police cracked a 6.5 billion "crypto arbitrage" case: USDT becomes a tool for illegal fund transfer, hidden operations carry multiple risks

When "crypto arbitrage" evolved from an arbitrage method in cryptocurrency trading to a tool for illegal cross-border fund transfers, it ultimately cannot escape legal sanctions. Recently, Shanghai police reported a case involving an amount as high as 6.5 billion yuan in a "crypto underground bank" case, where 17 shell companies conducted "wash trading" with USDT (Tether), exposing the gray operations of fund transfers to the sunlight.