Shi Mouyuan's construction bank card showed abnormal capital flows, which prompted police in Horqin Branch to investigate.
The gang affected a number of provinces and cities. The gang even had members arrested in Thailand.
After a three-month investigation, a task force of 230 police officers searched 17 provinces, cities, and autonomous regions for three months before arresting 63 suspects, including leaders Zhang and Ji.
Besides fraud, pyramid schemes, gambling, and other illicit activities, authorities reveal the gang has been operating since May 2021. It has since been laundering illicit wealth using crypto assets.
93 suspects were also arrested in China. Previously, Chinese authorities busted criminal gangs laundering funds with cryptocurrencies. The cryptocurrency was used to hide 40 million yuan by a gang in Hengyang Couthat had laundered.