BlockBeats News, May 1st, according to Caixin, citing multiple independent sources, Chongqing Jing Sheng Law Firm founding partner and director Peng Jing was recently taken away for investigation by relevant authorities. The outside world speculates that there is a connection between this case and the previous downfall of Chongqing Mayor Hu Henghua and Chongqing Municipal Party Standing Committee member and Liangjiang New Area Party Secretary Luo Lin.

Chongqing business and political circles report that both Hu Henghua and Luo Lin's falls involved bribery and money laundering through stablecoins, with Peng Jing suspected of assisting fund transfers under the guise of "lawyer fees."
Sources reveal that Lin Xiucheng's son-in-law Lin Kechuang paid Hu Henghua 30.8 million USDT, approximately 210 million RMB.
After Hu Henghua was investigated, authorities seized his cold wallet and further traced the fund flows of six other cold wallets held by Lin Kechuang.
One transfer of 15.5 million USDT was reportedly sent to Luo Lin.
The report states that after Luo Lin was taken away, his hidden cold wallet stored with a third party was subsequently recovered.