News Snapshot:
The suspects confessed to laundering proceeds from telecoms fraud using Tether, before withdrawing the funds to transfer overseas. Chinese Police in the Northern city of Cangzhou, Hebei, have arrested 13 people accused of laundering ill-gotten gains through a cryptocurrency trading platform, Caixin has reported. The suspects are said to have been involved in 143 cases of telecoms fraud from August to October, worth over CNY 8 million (USD 1.2 million). The suspects have confessed to using the fraud proceeds to launder money using Tether (USDT), a cryptocurrency linked to the value of the US dollar. According to Caixin, the suspects...
