The case involved exceeds 4 million yuan! The police busted another mega-fraud ring.

On August 23, Hunan police announced a major case of cross-border telecom fraud using cryptocurrency. The case involved renting communication tools to overseas fraud gangs, involving more than 4 million yuan. The Ouyi wallet address of Xia Mou, the leader of the criminal gang, shows that the encrypted currency used to settle the fraudulent commission is as high as 9 million yuan, nearly 10 million yuan. The gang members mainly trade through the virtual currency USDT to avoid traditional financial supervision.

Wen Jie, deputy head of the new crime investigation brigade of telecommunication network of Linwu County Public Security Bureau, revealed that criminal gangs provide services to overseas fraudsters through "mobile phone port" and "PC terminal". "Mobile phone port" refers to renting a mobile phone number to make fraudulent calls, while "PC side" refers to renting a micro signal for fraud. It is worth noting that the gang members are generally younger, many of them are minors under the age of 18, and they are tempted by high salaries to participate in criminal activities.

The police found detailed records in the suspect’s computer, including the contact information of the merchant, the QQ of the crime, the time and the transaction method. The case involved 86 cities in 18 provinces, and 62 suspects were arrested. The police reminded that criminals use cryptocurrency to evade supervision, and the public should be vigilant and beware of new financial fraud.