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A certain gang illegally operated forex through methods such as virtual coin wash trading, involving an amount of over 3.9 billion yuan.
On May 16, according to Hongxing News, on May 15, the Sichuan Public Security in China released 10 typical cases of economic crime, including the “2•6” illegal operation (forex) case. In this case, since August 2021, Fan, He, Chen and others established studios and technology consulting companies in Chengdu, using Social Web software to draw attention to targeted customers. They colluded with domestic agents of overseas exchange institutions and provided illegal cross-border exchange services for RMB through methods such as cashing out overseas gift cards and virtual coin wash trading, with a total amount involved exceeding 3.9 billion yuan. In this case, 21 criminal suspects were successfully captured, and the investigation concluded in December 2024 and was sent for review and prosecution.