Victory Brother's View: The Zhejiang Dinghai Court has concluded a case involving the crime of assisting in criminal activities using USDT, with an amount involved exceeding 5 million yuan.

PANews, November 1st news, according to the official account of the Dinghai Court in Zhoushan, Zhejiang, recently, the Dinghai Court concluded a case of the crime of assisting information network criminal activities due to virtual currency trading. From October 2022 to August 2023, Huang and 10 others including Yao gathered to register multiple 'businesses' on an overseas virtual currency platform, profiting through stock dividends and buying low and selling high of Tether. They were aware that there might be illegal criminal activities upstream in the transactions, yet still received transfers from victims Gan and Wen through employee WeChat, and then deposited Tether into designated accounts to assist in transferring funds related to fraud and other criminal activities. During this period, various 'businesses' frequently had WeChat accounts suspected of fraud that were risk-controlled and frozen, with involved personnel unfreezing accounts by forging false transaction screenshots and express tracking numbers, or changing accounts to evade supervision. Investigation revealed that Huang and others helped to pay and settle funds related to information network crimes exceeding 5 million yuan, with several defendants participating in transferring funds ranging from hundreds of thousands to millions. On August 28, 2023, ten defendants were arrested in Fuzhou and Putian, Fujian. The court sentenced Huang to a fixed-term imprisonment of two years and eleven months for the crime of assisting in information network criminal activities, and a fine of 50,000 yuan; Yao, Guo, and nine other accomplices were sentenced to fixed-term imprisonment ranging from seven months to two years and three months, all subject to probation, and fined; the seized 877,000 yuan of illicit funds was returned to the victims, and tools used in the crime such as mobile phones and hard drives were confiscated. #BTC☀