Beijing police uncover crypto exchange scheme involving students and 800K yuan
- —Beijing police uncovered a scheme moving over 800,000 yuan through two students' accounts
- —Part of the funds was converted into crypto via third-party payment platforms
- —780,000 yuan was frozen and returned to the original victim
- —The students were also deemed victims, with their accounts used as transit for laundering
Why it matters: The case highlights how crypto exchange is used in fraud chains, adding pressure on P2P platform regulation in China.
Source: TokenPost