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Another Chinese money laundering scheme tied to Deltec and Tether

Daren Li and Yicheng Zhang moved cash from so-called pig-butchering scams to Deltec Bank and Trust. It was then converted to tether.

China busts $2 billion USDT money laundering operation

The gang allegedly used USDT to evade China’s foreign exchange regulations and provide a means for criminals to send their funds overseas.

The China CBDC scam uses ‘dividends’ to trick users into sharing the app while also directing them to tools capable of seizing their funds.

Jian Wen has been accused of laundering funds that were stolen from 128,000 Chinese investors and converted to bitcoin between 2014 and 2017.