According to Foresight News and Xinhua News Agency, the Shenyang Public Security Bureau in Liaoning Province has successfully cracked a case involving illegal business operations by Tong Moumou and others. Since 2017, Tong Moumou and others have been engaged in illegal foreign exchange trading activities in the United States. From January 2020 to June 2021, they illegally traded foreign exchange totaling more than 16 million yuan through "matching" transactions.
In the case, Tong confessed that while operating a car dealership in the United States, he met a Mexican businessman named JC, who offered to buy cryptocurrency from him in US dollars. Tong then instructed Chen to purchase cryptocurrencies such as Bitcoin and Tether through various channels and sell them to JC in exchange for US dollars. According to his confession, exchanging currency for JC was only a part of his business; his main clients were international students, businessmen, and gamblers.
In September 2025, the Huanggu District People's Court of Shenyang City sentenced Tong Moumou and Chen Moumou to one year and seven months and one year and four months in prison, respectively, and imposed fines for illegal business operations. Police remind the public to use legitimate channels such as banks to exchange foreign currency and never lend their personal accounts to others.
