Chinese Zhanjiang Police Bust Virtual Currency 'Credit Score Laundering' Money Laundering Gang, 16 Arrested

July 31, the public security authorities in Zhanjiang and Leizhou, Guangdong Province, China recently carried out a concentrated operation and successfully dismantled a "point-boosting" money laundering criminal gang that used cryptocurrency transactions to transfer funds obtained from telecommunications network fraud. 16 members were criminally detained according to law.

The gang, led by the couple He and Zhang, has been whitewashing and transferring funds from fraud through a cryptocurrency transaction model since the end of 2025. They illegally profited by earning the price difference in transactions and extensively gathered personal bank cards, WeChat, Alipay, and other payment accounts to establish a money laundering chain. In the early hours of July 24, the police conducted a precise operation across regions and completely destroyed the gang's chain.

Zhanjiang police solemnly remind that "point-boosting" money laundering is an important accomplice to telecommunications network fraud. The persons involved in the case will be charged according to the severity of the circumstances, including charges of aiding and abetting cybercrime, concealing or disguising criminal proceeds, and benefiting from crime. The general public should not, for the sake of small commissions, rent out, lend, or sell personal bank cards and various payment accounts, resolutely avoid participating in illegal activities such as cryptocurrency fund transfers and money laundering through proxy payments, consciously safeguard personal credit and property security, and actively stay away from all kinds of fraudulent and criminal activities.