The Chinese Communist Party’s (CCP) strict controls on foreign exchange have led to a proliferation of underground banks. Shanghai police recently cracked the first case of an underground bank selling game time cards (GTC) as a cover for illegal currency exchange. In six years, the underground bank has transferred $3.75 billion. According to Chinese media reports, the underground bank used the GTCs as a medium to form a multi-link currency exchange chain in China, helping domestic and foreign customers exchange currencies. Over 20 people have been arrested and 3 online exchange platforms have been shut down. According to the report, the suspects liked the international liquidity and price stability of online GTCs. Through a self-fixed exchange rate, the cards are used as the medium to connect the domestic and foreign exchange transactions, so that it looks legitimate. The suspects recruited several domestic GTC dealers to facilitate the illegal exchange of …