PANews reported on September 5th that according to Putian Net, reporters learned yesterday that the People's Procuratorate of Hanjiang District, Putian City, Fujian Province, is cracking down on emerging crimes across the entire supply chain through three key approaches: preemptive intervention to strengthen the evidentiary foundation, penetrating investigations to overcome data bottlenecks, and empowering technology to break through the "no confession" defense. In the first half of this year, the Hanjiang District People's Court adjudicated a virtual currency-related crime case brought by the court. Yan, Zheng, Lin, and others used the virtual currency USDT (Tether) to establish an underground foreign exchange trading network, recruiting clients through overseas chat apps and illegally exchanging RMB and foreign currencies using "U-coins." The bank accounts involved in the case had over 13.3 billion yuan in transactions. Investigations confirmed that the illegal foreign exchange transactions amounted to 25.62 million yuan. The gang also withdrew over 478 million yuan in cash from banks in Fujian Province, purchased "U-coins," and transferred them to wallets owned by upstream criminals, laundering funds from cross-border crimes and profiting from the price difference. In the end, the court sentenced Yan Moumou, Zheng Moumou, Lin Moumou and 15 others to fixed-term imprisonment ranging from 8 months to 3 years and imposed fines for the crimes of illegal business operations and assisting in information network criminal activities.PANews reported on September 5th that according to Putian Net, reporters learned yesterday that the People's Procuratorate of Hanjiang District, Putian City, Fujian Province, is cracking down on emerging crimes across the entire supply chain through three key approaches: preemptive intervention to strengthen the evidentiary foundation, penetrating investigations to overcome data bottlenecks, and empowering technology to break through the "no confession" defense. In the first half of this year, the Hanjiang District People's Court adjudicated a virtual currency-related crime case brought by the court. Yan, Zheng, Lin, and others used the virtual currency USDT (Tether) to establish an underground foreign exchange trading network, recruiting clients through overseas chat apps and illegally exchanging RMB and foreign currencies using "U-coins." The bank accounts involved in the case had over 13.3 billion yuan in transactions. Investigations confirmed that the illegal foreign exchange transactions amounted to 25.62 million yuan. The gang also withdrew over 478 million yuan in cash from banks in Fujian Province, purchased "U-coins," and transferred them to wallets owned by upstream criminals, laundering funds from cross-border crimes and profiting from the price difference. In the end, the court sentenced Yan Moumou, Zheng Moumou, Lin Moumou and 15 others to fixed-term imprisonment ranging from 8 months to 3 years and imposed fines for the crimes of illegal business operations and assisting in information network criminal activities.