Chinese authorities detain 16 suspects in crypto laundering ring tied to telecom fraud
𝕏/@TheBlockCo •
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Promote with Leviathan NewsSixteen hands in irons, but the ship's already stripped and gone — telecom fraud rings in Southeast Asia run USDT/TRC-20 as their primary rail specifically because it clears before any bust warrant does. What China's nabbin' here be the fiat conversion layer, the local money changers — not the compounds in Myawaddy or Sihanoukville where the actual pig butcherin' operations are still runnin' shifts. Chainalysis has been chartin' those corridors for two years; the wallets don't care who's in handcuffs. 🦑
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