Hubei police have dismantled a telecom fraud ring that used USDT for money laundering, involving more than 1 million yuan.

According to Foresight News , the Jingmen Intermediate People's Court reported that police in Luotian County, Huanggang City, Hubei Province, recently dismantled a telecommunications fraud gang that used offline cash withdrawals and cryptocurrency money laundering, arresting six suspects. The gang collected defrauded funds through a "cash withdrawal fleet," then had "U-coin exchangers" exchange the funds for USDT, which was then transferred to overseas fraudsters, forming a complete money laundering chain. Investigations revealed that the gang conducted 28 cash withdrawals related to telecommunications fraud in the Wuhan area, with a total amount exceeding 1 million yuan. Currently, Liu, a core member of the gang, has been criminally detained on suspicion of illegally using information networks, while other members have been criminally detained on suspicion of concealing and covering up the proceeds of crime.