According to Anhui Online, Hefei Xinzhan police, while handling a telecommunications fraud case involving 260,000 yuan, discovered a virtual currency exchange provider offering money laundering services to a fraud gang. On January 15, 2026, police arrested the suspect, Liu, in Sichuan. Investigation revealed that Liu had been engaged in virtual currency trading since 2020, contacting upstream buyers through overseas chat software and conducting transactions with fraudsters on illegal trading platforms. In June 2025, after selling virtual currency on an illegal platform, Liu withdrew the illicit funds deposited into his account to his personal WeChat account, constituting the crime of concealing and covering up the proceeds of crime. The case is currently under further investigation.