The police in Xiangyang, Hubei Province have cracked down on an illegal currency exchange gang, involving a total amount of over 5 million yuan
--
According to the Procuratorate Daily, on June 11, 2025, police in Xiangyang, Hubei Province seized an Audi sedan at the Dragon King Service Area of G70 Fuyin Expressway, which contained 9 million yuan in cash. Two men were instructed to go to Xi'an to exchange USDT. The gang is based in Zhuhai, Guangdong and uses USDT to engage in illegal foreign exchange trading. From August 2023 to June 2025, the cumulative amount of illegal transactions exceeded 5 million yuan. In December 2025, the Xiangzhou District Procuratorate prosecuted four defendants. In February of this year, the court sentenced the main offender Lai Mouding to one year in prison and a fine, while the other three were sentenced to 8 to 10 months in prison and fined.