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Zenger
Zenger
Khyathi Dalal

Money Mules Charged With Moving $307M In Tether, Converting Sum To Renminbi: Report

Jiang Zheng CoinDesk Chongqing
Two defendants with surnames Jiang and Zheng employed 19 other money mules used decentralized wallet Bitpie to move $307 million in Tether (USDT) to local P2P exchanges on virtual currency platforms for Renminbi conversion, PHOTO BY KANCHANARA/UNSPLASH

A Chinese court near Chongqing sentenced 21 people for online fraud, CoinDesk reported.

Two defendants with surnames Jiang and Zheng employed 19 other money mules used decentralized wallet Bitpie to move $307 million in Tether (USDT) to local P2P exchanges on virtual currency platforms for Renminbi conversion. 

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