Chinese police have arrested three men suspected of laundering over $140 million worth of cryptocurrency, which was allegedly converted from U.S. dollars. The group is said to have used a P2P crypto trading platform to carry out the illegal activities. The investigation and bust were led by the Jilin police bureau and were conducted in cooperation with the public security bureau of Hunchun City in China’s northeast province of Jilin. According to reports, the trio used the cryptocurrency to purchase luxury cars, real estate, and other expensive items. They were allegedly laundering money for over 300 clients from around the world. The investigation is ongoing, and the suspects may face charges of illegal money-laundering according to Chinese laws.
