Chinese Police Claim OTC Crypto Trader Laundered $73,500


Source: decrypt.co decrypt.co

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An over-the-counter cryptocurrency trader in China is being investigated for buying $73,500 worth of USDT stablecoins. Sep 29, 2020 Police investigate an over-the-counter cryptocurrency trader. Image: Shutterstock Chinese police are investigating an over-the-counter (OTC) cryptocurrency trader for facilitating a deal that involved $73,500 of illicitly gained funds, industry news outlet 8BTC reported today. According to the publication, the dealer helped undisclosed fraudsters to trade 500,000 Chinese yuan (roughly $73,500) for USDT stablecoins. The funds, which are reportedly part of an investment scam, were first deposited on crypto exchange OKEx. The exchange, authorities and the trader himself are “continuing to cooperate...