Chinese Police Seize $160M Crypto In Landmark Case
The Shayang County Public Security Bureau in Jingmen City, Hubei Province, revealed that the main suspect in a massive cross-border online gambling case, Qiu Moumou, along with several accomplices, has been brought to trial in accordance with the law. The case involved a staggering turnover of 18 billion yuan, and the civilian police of the task force worked relentlessly for two years to bring the perpetrators to justice.
Chinese police have announced the country's first case of confiscating cryptocurrency through a court ruling. The police cooperated with the issuing institution to freeze and seize approximately $160 million worth of cryptocurrency from a gambling platform. Three suspects located…
— Wu Blockchain (@WuBlockchain) July 18, 2023
Illicit Gambling Network Exposed
The investigation into the illicit gambling operation began in July 2021 when a distressed individual named Xiong from Shayang County reported the matter to the Jishan Police Station. Little did anyone anticipate the magnitude of what they would uncover—a shocking network of cross-border online gambling.
Xiong’s involvement in the gambling world began innocently enough, as he used his mobile phone to pass the time during his leisure hours. Witnessing his colleagues enjoy considerable success playing board games on their phones, Xiong was tempted to try his luck as well. After downloading the app “XXX Board Game,” he experienced initial triumphs, winning thousands of yuan with just a 6-yuan recharge, igniting his appetite for further gains. However, as the stakes increased, so did Xiong’s losses. He soon found himself trapped in a vicious cycle, chasing his previous victories.
Cracking Down on Online Gambling
The case, which was initially brought to light by Xiong’s plea for help, ultimately led to the unearthing of an intricate and sprawling web of illegal online gambling, crossing international borders and involving astronomical sums of money. The arrest and trial of Qiu Moumou and his associates signify a major blow to the illegal gambling syndicate.
Authorities hope that the successful prosecution of the culprits will serve as a warning to others involved in such unlawful activities, while also highlighting the significance of cooperation and determination exhibited by the police task force in combating cross-border crimes. As the trial proceeds, the significance of this momentous case underscores the importance of continued vigilance and the dedication of law enforcement in tackling the ever-evolving challenges posed by online criminal enterprises.
