Asia Market Daily: China's Central Bank Cracks Down on Crypto Money Laundering, Seizing $18M
- China's central bank and public security authorities dismantled a new type of underground bank that used virtual currencies to launder money.
- The criminal gang lured victims with offers to repay credit card debts for free, then collected their ID and card information to run "paofen" (money muling) operations for overseas gambling and telecom fraud groups.
- Funds were converted to crypto by OTC traders and transferred to designated addresses abroad.
- Using large language models and on-chain analytics, the PBOC's Digital Currency Research Institute identified nearly 1,000 related accounts.
- Raids across multiple provinces led to the seizure of about 130 million yuan ($18 million) in illicit proceeds and convictions of several gang members for illegal business operations.
China's central bank and public security authorities have dismantled a new type of underground bank that used virtual currencies to launder money, according to state broadcaster CCTV.
The criminal gang lured victims with offers to repay credit card debts for free, then collected their ID and card information to run "paofen" (money muling) operations for overseas gambling and telecom fraud groups. Funds were converted to crypto by OTC traders and transferred to designated addresses abroad.
Using large language models and on-chain analytics, the PBOC's Digital Currency Research Institute identified nearly 1,000 related accounts, leading to raids across multiple provinces. Authorities seized about 130 million yuan ($18 million) in illicit proceeds and convicted several gang members for illegal business operations.
亚洲市场日报：中国央行打击加密货币洗钱，查获1800万美元
根据国家广播公司CCTV，中国央行和公安机关摧毁了一个使用虚拟货币洗钱的地下银行。
该犯罪团伙以免费偿还信用卡债务为诱饵，然后收集受害者的身份证和卡信息，为海外赌博和电信诈骗集团运营“跑分”操作。资金通过场外交易商转换为加密货币，并转移到境外的指定地址。
人民银行数字货币研究所利用大型语言模型和链上分析识别出近1000个相关账户，导致在全国多个省份进行突击检查。警方查获约1.3亿元（1800万美元）的非法收益，并对几名团伙成员非法经营罪名定罪。