Inner Mongolia Fourth Party Payment Gambling Case Involves 2.95 Billion Yuan, Five Sentenced to 3-6 Years

On July 27, the Intermediate People's Court of Xilin Gol League in Inner Mongolia issued a second-instance verdict on the illegal business case involving Ma. In this case, Zhu and others established a fourth-party payment platform to provide fund settlement services for overseas gambling websites. They settled over 2.95 billion yuan through 10 third-party payment companies and 105 merchants, illegally profiting approximately 42.85 million yuan. The case is notable because some commissions were collected in virtual currencies such as USDT. The court found that Zhang and others' wallet addresses received and paid millions of USDT multiple times (equivalent to tens of millions of yuan), but ultimately determined that the profit amount was primarily based on the return of stolen funds in yuan. Only Ma was identified as having profited 2.95 million yuan for failing to return the stolen funds, and was sentenced to four years and six months in prison, fined 3 million yuan, and ordered to return illegal gains. The other four individuals received sentences ranging from 3 to 6 years. The public security authorities collected evidence by retrieving wallet addresses from Tether and transaction details from the OKEx trading platform. Experts pointed out that while virtual currencies can be traced on-chain, binding them to real entities is difficult without a real-name system, and the lack of professional auditing institutions in the country means that the determination of the amount involved in the case still largely relies on testimonies.

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.