Gansu courts try virtual currency money laundering case; defendant sentenced for withdrawing cash and exchanging USDT to transfer fraud proceeds

According to the Tianshui Qinzhou District People's Court in Gansu, the Qinzhou District People's Court recently tried a criminal case involving virtual currency and helping others withdraw cash. The defendant, knowingly aware that the funds were obtained from fraud, used a part-time "high-paying courier" job to make multiple withdrawals within 7 days in blind spots of surveillance, totaling over 390k yuan, and exchanged the funds for virtual currency to transfer to the online operator, profiting 21.5k yuan. The court found that he committed the crime of concealing and disguising criminal proceeds, and sentenced him to 2 years and 4 months in prison, with a fine of 10k yuan, and ordered the confiscation of illegal gains.