A Hubei court sentenced five individuals for using virtual currency Tether via overseas chat software to transfer telecom fraud proceeds, with recovered funds allocated to 17 victims.
A Hubei court sentenced five individuals for transferring suspected fraud funds of 2.09 million yuan using Tether. The defendants, coordinating via overseas chat software, were convicted of concealing criminal proceeds, receiving sentences between two and three years and fines from 5,000 to 18,000 yuan. Over 1.5 million yuan was recovered and will be distributed to 17 telecom fraud victims.