Chinese police bust $1.9B USDT underground banking racket
Chinese police have unearthed a $1.9 billion underground banking racket involving popular stablecoin Tether (USDT). The underground banking operations operated in the Chinese city of Chengdu and used the USDT stablecoin to exchange foreign currencies. The city police issued a media report highlighting the details of the underground operations and said they had arrested 193 [...]
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Published by: startupnews
Read full article here: https://startupnews.fyi/2024/05/16/chinese-police-bust-1-9b-usdt-underground-banking-racket/
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