The Dinghai District Court in Zhoushan sentenced ten people, including lead offender Huang, for laundering over 5 million yuan in USDT tied to telecom fraud between late 2022 and mid-2023.
A Zhejiang court sentenced ten defendants for aiding information network crimes through cryptocurrency transactions, specifically laundering over 5 million yuan in Tether linked to telecom fraud from October 2022 to August 2023. The Dinghai District Court in Zhoushan imposed prison terms of up to 2 years and 11 months and fines up to 50,000 yuan. Huang, the main offender, received the maximum sentence. The defendants operated multiple virtual currency accounts to conduct the illicit transfers.