Police Disclose New Type of Fraud: Virtual Currency Circulation Combined with Gold Cash-Out Forms Money Laundering Loop

Odaily News As the Chinese New Year approaches, a peak period for gold consumption, police have issued a warning about a new type of fraud involving "offline cash withdrawal + online scams." After victims purchase gold at jewelry stores and mail it to a specified address, the fraudsters dispatch disguised "couriers" to collect the packages from delivery personnel. Multiple "couriers" work in a relay, with the final one taking the gold to a recycling shop to sell it for cash, which is then delivered to a location specified by the fraudsters. In some cases, the fraudsters instruct the "couriers" to find cryptocurrency dealers to exchange the gold for virtual currency, deposit it into a designated account, and then use blockchain technology to circulate the virtual currency globally. Once successful, the fraudsters achieve the dual goals of stealing the gold and laundering the money. (Central Political and Legal Affairs Commission Chang'an Jian Official Account)