According to ChainCatcher, citing multiple independent sources verified by Caixin, Peng Jing, founding partner and director of Chongqing Jingsheng Law Firm, was taken away by authorities in late April. She is suspected to be a key figure in a stablecoin bribery and money laundering scheme allegedly involving 308 million USDT (approximately 2.1 billion yuan), with some 100 million USDT in transaction fees. According to sources, Chongqing Mayor Hu Henghui was investigated on March 20, followed by Luo Lin, secretary of the Liangjiang New Area Committee, on April 17. Both officials’ downfalls are reportedly connected to receiving bribes via stablecoin transfers, with Peng potentially facilitating money laundering through legal fee arrangements.
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