On August 19th, the reporter learned from the Beijing Second Intermediate People's Court about a case of using virtual currency transactions to cover up and conceal criminal offenses. The defendant knowingly assisted in the transfer of criminal proceeds and was sentenced to 3 years and 6 months in prison. In August 2024, Liu knowingly sold USDT (commonly known as U currency) to He, knowing that the cash held by He was the proceeds of crime, and received 200000 yuan in cash. It is now impossible to determine the whereabouts of the money involved. After investigation, it was found that the 200000 yuan transferred by Liu was fraudulently obtained by others. The court's effective judgment held that Liu Mingming knew it was the proceeds of crime and still assisted in transferring it, which constituted a cover up and concealment of the crime. The court sentenced Liu to 3 years and 6 months in prison for concealing and covering up the crime, and imposed a fine of 40000 yuan to recover his illegal gains. The judge stated that the defendant who conceals or conceals the criminal offense has a typical profit seeking nature and a mentality of luck. Many defendants cannot withstand the temptation of short-term high profits and commit crimes. Despite the increasing efforts to promote legal awareness of telecommunications fraud crimes, most defendants are already aware that the property involved may have been obtained through fraud. However, some still fantasize that their concealment and cover up behavior is difficult to detect, or that even if discovered, the consequences are not too serious, leading them to challenge the law. The judge reminds us to be vigilant against any request for "abnormal trading" under the banner of virtual currency, and not to participate in buying, selling, or transferring virtual currency or funds of unknown origin due to greed for small profits such as so-called "fees" and "price differences", or trusting promises from others. Knowing that it is the proceeds of another person's crime, but still assisting in the conversion, transfer, cashing out and other behaviors, may violate the criminal law, constitute concealment and concealment of the crime, and face severe criminal punishment. (New Society)