Shanghai Police Crackdown on Crypto Laundering Ring

Shanghai police have taken down a criminal network suspected of laundering funds through cryptocurrency, dismantling their operation involving suspects Miao and Wang. Over one million yuan were stolen from Mr. Tang’s bank account as part of the scheme, although authorities were able to partially recover these funds. The arrests of 11 individuals highlight ongoing efforts to combat crypto-related financial crime. 1000-million yuan in crypto was recovered through the operation and the investigation into this specific criminal ring is continuing.