CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-04-14 09:16:14

Chinese fraud ring laundered over $6m in Tether’s USDT from 66,800 Indian victims: report

A Chinese court sentenced nine individuals for running a telecom fraud ring that defrauded over 66,000 Indian victims and reportedly laundered proceeds through Tether’s USDT. Nine individuals have been sentenced to prison in China for their roles in a telecom fraud scheme that defrauded over 66,000 victims in India, according to a report by The Global Times. The group stole 517 million Indian rupees (about $6.2 million) by operating fake investment platforms and using false identities and was led by a man surnamed He, who started the operation in May 2023 by renting office space in Shandong Province. He recruited team members and set up overseas servers as well as handled contact with Indian companies and coordinated the flow of stolen funds. He stated that the group lured Indians through messaging, promising monthly returns of 8-15% on 1,000-rupee (around $12) investments via the so-called SENEE platform. You might also like: Crypto scammers nabbed in India for $700k fraud posing as a Japanese exchange When deposits surpassed the promised returns, the scam team would shut down the platform or convert debts into equity to freeze funds, the report reads. The funds were later laundered through third-party platforms and converted to Tether’s USDT ( USDT ) stablecoin, and subsequently exchanged into Chinese yuan or U.S. dollar with a 15% cut. The report doesn’t say which platforms the scammers used to cash out. One of the scammers, surnamed Li, portrayed herself as a “wealthy Indian woman” who achieved success through fund investments, the report reads. The group also created fake documents and websites to appear legitimate, what the Chinese court described as a “sophisticated criminal syndicate marked by professional organization,” the report reads. The sentences range from five years to nearly 15 years in prison, along with fines. Read more: Indian police bust $2m RSN crypto scam with alleged ties to China

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen