Caixin: A partner at a law firm in Chongqing has gone missing, possibly involved in a stablecoin bribery and money laundering case

Golden Finance reports that, according to Caixin, multiple independent sources have confirmed to Caixin that a founding partner and director of a certain law firm in Chongqing has recently been taken away by relevant authorities. This lawyer is Peng Jing, the founding partner and director of Chongqing Jingsheng Law Firm. The public speculates that she has intricate connections with key officials who have recently fallen from power.
According to sources, lawyers at the firm are usually not taken away by the Central Commission for Discipline Inspection, “but Peng Jing’s network is very extensive, and her cases involve too many people.” On March 20, 2026, Chongqing Mayor Hu Henghua was investigated, and on April 17, Chongqing Municipal Party Standing Committee member and Liangjiang New Area Party Secretary Luo Lin was also announced to have fallen from power.
Local political and business circles in Chongqing have leaked that Hu Henghua’s and Luo Lin’s downfalls are related to bribery and money laundering through stablecoins, and that “Peng Jing may be a key figure, helping others launder money under the guise of collecting legal fees.”
Sources say that in Hu Henghua’s case, Lin Xiucheng’s son-in-law, Lin Kechuang, gave Hu Henghua 30.8 million USDT (about 210 million RMB, with 10 million as exchange fees). After Hu Henghua was investigated, the cold wallets were controlled, and authorities traced the fund flows of six other cold wallets held by Lin Kechuang; among them, a transfer of 15.5 million USDT was made simultaneously with Hu Henghua’s transfer, which Lin Kechuang claimed was sent to Luo Lin.
Luo Lin was taken away by authorities on April 14, 2026, and his home was searched on the evening of April 15, but the cold wallet was not found. Subsequently, authorities found Luo Lin’s cold wallet at a third party’s home.