PANews reported on April 28 that according to the Sunwu County People's Court official account, the Sunwu Court heard a case of over-the-counter virtual currency transactions for money laundering and fraud. The two wallets used by the suspects traded 30,396,278.76 U coins, and they conducted nearly 10,000 U coin transactions with multiple people, involving nearly 10,000 collection accounts, with a total transaction amount of up to 120 million yuan. The virtual currency accounts they handled were used in 7 telecommunications network fraud cases to deceive the victims' trust, transfer money to the victims, or directly or indirectly receive the fraudulent proceeds. The Sunwu Court sentenced the suspects to the crime of concealing and concealing the proceeds of crime, sentenced them to corresponding penalties and fines, and confiscated all their illegal proceeds.