Police in Nanchong, Sichuan Province, recently dismantled a money laundering gang that used virtual currency, arresting five suspects.

Recently, the Shunqing Branch of the Nanchong Public Security Bureau successfully dismantled a "money laundering" gang using virtual currency, arresting five suspects, including Wang. According to a police report, the gang, led by Wang, recruited "card farmers" (account holders) through WeChat Moments and other channels, enticing them with promises of "high commissions" and providing their bank card numbers to overseas suppliers. After funds were transferred, the money was transferred in installments to designated accounts as instructed by the suppliers. Once the "money laundering" was completed, the suppliers would settle the "rewards" in virtual currency. Currently, Wang, Li, and the other four suspects have been criminally detained by the police, and the case is under further investigation.