Chinese Police Bust $140 Million Crypto Money Laundering Ring

• China's law enforcement agency in Wuhan has arrested 27 individuals involved in a sophisticated crypto money laundering and crime operation worth 1 billion yuan ($140 million).
• The arrests were made in provinces and cities such as Deyang, Changchun, and Dongguan.
• The operation followed a three-month investigation that began after a company was defrauded of RMB 350,000.
• The investigation led to the identification of a key suspect, Li, and revealed his involvement in a broader online money laundering network.
• The money laundering gang, orchestrated by the principal culprit Xiang and his core members, operated with clear hierarchies and distinct roles.
• The gang handled hundreds of bank cards and over 300 related cases.
• The police established a special arrest team and apprehended 27 individuals linked to the network.
• The investigation revealed that the principal suspect, Xiang Mou, used the "Airplane" software to coordinate gang members in using stolen funds to purchase crypto online and facilitate money laundering for electronic fraud gangs.

The sentiment of the article is negative, as it discusses a sophisticated crypto money laundering and crime operation and the arrests made in connection with it.