The People's Court of Huiji District, Zhengzhou City, Henan Province recently concluded a case of "group" buying and selling of virtual currency fraud. The defendants were connected with online telecom fraudsters through banned network software, and cashed in on the tele-fraud proceeds transferred by the online fraudsters. After cashing in, they purchased virtual currency for hedging at illegal currency merchants, and then returned the virtual currency to the online telecom fraudsters, completing the capital laundering of the victims of telecom fraud and obtaining an illegal profit share of 8% of the cashed amount. As of the time of the case, they had helped the online telecom fraudsters transfer more than 1.3 million yuan of stolen money. It is reported that the relevant defendants were sentenced to three years and ten months in prison and fined 40,000 yuan.