The Shanghai police in China have dismantled a virtual currency account trafficking gang that assisted in the transfer of funds through overseas fraud, and 11 people have been arrested

BlockBeats News: On May 17th, according to Guangming Net, Shanghai Pudong police recently successfully dismantled a criminal gang that used "labor recruitment" as a cover to transfer funds for overseas fraud gangs. The gang recruited personnel to register virtual currency wallets and provided illegal fund circulation accounts for fraudulent activities. On April 13th, Mr. Tang, a citizen, contacted the other party to cancel the delivery after receiving a "cash on delivery" text message. The other party requested to provide bank card information and send a link. After clicking on the link, Mr. Tang entered his bank card number and verification code as required, but found that his bank account had been deducted, resulting in a cumulative loss of over one million yuan. He then called the police. After receiving the report, the police quickly established a special task force to conduct an investigation and identified the criminal gang led by Miao and Wang. On April 22-23, the police conducted a unified crackdown operation in Qingpu District and arrested 11 suspects involved in the case. After investigation, the gang sold the virtual currency accounts registered by the recruited individuals to overseas fraudsters at a price of 40 to 50 yuan each, for money laundering purposes. At present, the main suspects Miao and Wang have been criminally detained, and several other suspects have been subjected to criminal coercive measures in accordance with the law. The case is being further investigated, and the police have frozen and recovered some of the funds involved.