To make up for his credit card debt, Wu (a pseudonym), an unemployed college student, decided to take the risk and cooperate with a money laundering company to profit from trading virtual currencies. This action ultimately led to him being sentenced to six months in prison, suspended for one year, and fined RMB 2,000 by the Lixian City People's Court on July 26, 2024. Wu's actions constituted the crime of concealing or hiding criminal proceeds. In this case, Wu's bank account was used for money laundering, with total transaction amounts reaching over RMB 25,000, and he illegally profited approximately RMB 5,000. The case originated from a public report on December 22, 2023. Police discovered that Wu was involved in a fraud case, with a fraud amount of RMB 3,830, part of which entered his account. After further investigation, police confirmed that Wu's bank account was used for money laundering and filed charges against him on July 11. Ultimately, the court made the aforementioned judgment based on relevant laws.