Virtual currency money laundering crimes continue to be prevalent, with over 3,000 people already prosecuted in 2024.

Recently, Caixin released the latest data showing that in 2024, Chinese law enforcement agencies have continuously intensified their efforts to combat virtual currency crimes. According to statistics, a total of 3,032 individuals were prosecuted for suspected involvement in crimes such as money laundering using virtual currencies. This figure reflects that the problem of virtual currency being abused for illegal fund transfers is still spreading.

Clear Characteristics of Criminal Groups

An in-depth analysis of recent court cases indicates that criminals involved in money laundering through virtual currencies have distinct demographic features. Based on a review of 283 related verdicts, criminal groups often target young people with relatively weak socio-economic status, using various means to “drag them into the water” as tools for crime. Most of these individuals lack basic legal awareness, with educational backgrounds mainly at middle school and high school levels, and their geographic distribution shows obvious regional concentration.

Virtual Currency as a “Tax Haven” for Crime

The anonymity of virtual currency transactions and the convenience of cross-border flow have gradually turned it into a tool for transferring illegal gains. Criminals exploit this feature to convert illegally obtained funds through multiple layers of virtual currency transactions, aiming to evade law enforcement monitoring and tracking. The increasing number of such cases indicates that money laundering methods are continuously evolving.

Multi-Dimensional Prevention and Control Are Urgent

In the face of the increasingly complex virtual currency crime landscape, Caixin’s recommendations cover multiple aspects: First, law enforcement agencies need to work together to establish a comprehensive prevention and control system covering the entire virtual currency chain; second, relevant legal regulations should be improved to clarify regulatory boundaries; third, technical detection capabilities at key points should be strengthened to improve the efficiency of identifying illegal fund flows; fourth, while preventing crime, efforts should be made to protect normal legitimate economic and trade activities from interference.

The healthy development of the virtual currency market depends on an effective regulatory framework. The prosecution of 3,032 individuals in 2024 not only reflects law enforcement achievements but also reminds us that the urgency to prevent the misuse of virtual currencies has not diminished.