Gansu court in China hears case of laundering stolen virtual currency funds, defendant sentenced to two years and four months in prison

On April 4th, the People's Court of Qinzhou District, Tianshui, Gansu Province, China, tried a criminal case involving virtual currency. The defendant worked part-time as a "high paid errand runner" and, knowing it was obtained through fraud, withdrew a total of more than 390000 yuan from a surveillance blind spot within 7 days, exchanged the funds for virtual currency and transferred them to the online platform, earning 21500 yuan from it. The court found that he had committed the crime of concealing and disguising the crime, and sentenced him to two years and four months in prison, fined 10000 yuan, and ordered the return of illegal gains. The judge reminds that offline withdrawal has become a key link in the "whitewashing" of telecom fraud funds, and the public should be vigilant about collecting cash, transferring funds, and assisting in the transfer of funds.