[Gansu Court in China Tries Case Involving Money Laundering of Virtual Currency Proceeds: Defendant Sentenced to Two Years and Four Months] BlockBeats News, April 4 – The Qinzhou District People's Court in Tianshui, Gansu Province, China, recently heard a criminal case involving cash withdrawals related to virtual currency. The defendant, under the guise of a 'high-paying runner' part-time job, knowingly withdrew a total of over 390,000 yuan in fraud proceeds within seven days in surveillance blind spots. The funds were then converted into virtual currency and transferred to an upstream accomplice, earning the defendant a profit of 21,500 yuan. The court found the defendant guilty of the crime of concealing and disguising criminal proceeds and sentenced them to two years and four months in prison, along with a fine of 10,000 yuan, and ordered the confiscation of illegal gains. The judge reminded the public that offline cash withdrawals have become a critical link in the 'laundering' of funds from telecom fraud. Activities such as 'runner cash withdrawals' and 'high-paying daily settlements' are often part of fraud chains. The public is advised to be vigilant against participating in activities like collecting cash, transferring funds, or assisting in the movement of money to avoid becoming accomplices to crime.