Chongqing Lawyer Peng Jing Taken for Investigation Linked to Former Mayor's Stablecoin Bribery Case on May 1

According to Caixin, lawyer Peng Jing, founding partner and director of Chongqing Jingsheng Law Firm, was taken away for investigation on May 1, reportedly linked to former Chongqing mayor Hu Henghua and Luo Lin, Chongqing's party committee member and Liangjiang New Area party chief, according to multiple independent sources.

Hu Henghua and Luo Lin's cases allegedly involve bribery and money laundering through stablecoins, with Peng Jing suspected of facilitating fund transfers under the guise of legal fees. Sources disclosed that Lin Kechuang, son-in-law of Lin Xiucheng, transferred 30.8 million USDT (approximately 210 million yuan) to Hu Henghua. After Hu's investigation, authorities seized his cold wallet and traced six additional wallets linked to Lin Kechuang, with 15.5 million USDT allegedly transferred to Luo Lin.