Shenyang police cracked an illegal currency exchange case; the suspects had sold BTC and USDT to Mexican drug traffickers.

Recently, the Shenyang Public Security Bureau in Liaoning Province successfully cracked the "Tong Moumou et al. illegal business case." In April 2024, a tip from the US that a Chinese national named Tong Moumou was suspected of money laundering for drug traffickers attracted great attention from the Chinese police. To ascertain the truth, the Ministry of Public Security immediately deployed the Liaoning Provincial Public Security Department to conduct verification work. On May 20, 2024, Shenyang police arrested Tong Moumou and Chen Moumou in Wuhan, Hubei Province, as they attempted to flee the country. The case involved more than 2,000 people, hundreds of companies, 49,000 accounts, and 10.56 million transaction records. Through the continuous efforts of the police, the facts of Tong Moumou, Chen Moumou, and others' illegal foreign exchange trading and other crimes were finally fully investigated. The investigation revealed that since 2017, Tong Moumou and others had been operating a car dealership in the United States, selling cars and providing RMB and USD exchange services to car buyers. Later, they shifted to specializing in illegal foreign exchange trading and other criminal activities. During his time operating the car dealership in the United States, Tong Moumou met a Mexican businessman named JC. JC learned that Tong needed US dollars for currency exchange and offered to buy cryptocurrency from him in US dollars. Tong then instructed Chen to purchase Bitcoin, Tether, and other cryptocurrencies through various channels and sell them to JC in exchange for US dollars. However, according to Tong's confession, exchanging currency for JC only constituted a part of his business. While in the US, Tong primarily provided currency exchange services to international students, businessmen, and some local gamblers with large currency exchange needs. (Xinhua News Agency)