---
title: "Chinese police bust $1.9B USDT underground banking racket"
url: https://diffcoin.com/chinese-police-bust-1-9b-usdt-underground-banking-racket/
description: "The authorities destroyed two underground operations in Fujian and Hunan, and the police also froze 149 million yuan worth $20 million linked to the USDT…"
published: 2024-05-16
updated: 2024-05-16
author: "Mila"
site: "Diffcoin"
---

# Chinese police bust $1.9B USDT underground banking racket

The authorities destroyed two underground operations in Fujian and Hunan, and the police also froze 149 million yuan worth $20 million linked to the USDT banking operations.

[Source link](https://cointelegraph.com/news/chinese-police-bust-usdt-underground-banking-ring)