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China sees 10% rise in e-CNY wallets, first case of money laundering using digital yuan
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ambcrypto.comThe Chinese government may want to reconsider the security of its central bank digital currency [CBDC] in the backdrop of Xinmi police’s crackdown on the first-ever case of money laundering using the digital Yuan.
According to reports, Xinmi Public Security alongside the Anti-fraud Center of the Zhenzhou Public security Bureau arrested 11 people. They were suspected of illegally using digital fiat to launder money. As per the authorities, the scammers were laundering money to an overseas fraud group located in Cambodia.
Chinese news agency Jiemian offered more details on the incident. It stated,
“This time, a case of telecommunications network fraud occurred in Xinmi City. Qu received an unfamiliar call saying that the items purchased online
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