Tianshui court tried a case involving the laundering of virtual currency proceeds: the defendant was sentenced to two years and four months in prison for "running errands to withdraw cash".

The People's Court of Qinzhou District, Tianshui City, Gansu Province, recently tried a criminal case involving the withdrawal of cash packages through virtual currency. The defendant, knowing the money was obtained through fraud, repeatedly withdrew a total of over 390,000 yuan in cash over seven days in areas without surveillance coverage. He then converted the funds into virtual currency and transferred it to his superior, profiting 21,500 yuan in the process. The court found him guilty of concealing and covering up the proceeds of crime and sentenced him to two years and four months in prison, a fine of 10,000 yuan, and ordered him to return the illegal gains. The judge warned that offline cash withdrawals have become a key step in laundering stolen funds from telecommunications fraud. "Cash withdrawal services" and "high-paying daily settlements" are often part of fraud chains. The public should be vigilant about receiving cash, transferring money, and assisting in the transfer of funds to avoid becoming accomplices to crime. (Tianshui Qinzhou District People's Court Official WeChat Account)