ChainCatcher report, based on Japan’s Jiji Press and TBS, Japanese police have arrested six people suspected of laundering money for a fraud syndicate via cryptocurrency. Police investigations revealed that the group allegedly processed roughly 91 million yen (about $580,000) in fraud proceeds between February and March 2024, involving round 30 victims. The funds first entered company financial institution accounts, had been then transformed into BTC, transferred abroad and exchanged into USDT earlier than being returned to the fraud syndicate; the suspects allegedly obtained a fee of about 1%.
