Caixin: A partner at a Chongqing law firm has gone missing, possibly involved in a 210 million yuan stablecoin bribery and money laundering case.

Multiple independent sources have confirmed to Caixin that Peng Jing, the founding partner and director of a Chongqing law firm, was recently taken away by relevant authorities. She is the founding partner and director of Chongqing Jingsheng Law Firm, and there is speculation that she has close ties to the aforementioned high-ranking officials who have been dismissed from their posts. According to sources, lawyers from law firms are typically not taken away by the Central Commission for Discipline Inspection (CCDI), "but Peng Jing's network of connections is extremely vast, and her case involves too many people." On March 20, 2026, Chongqing Mayor Hu Henghua was announced to be under investigation, and on April 17, Luo Lin, a member of the Chongqing Municipal Party Committee Standing Committee and Secretary of the Liangjiang New Area Party Committee, was also announced to have been dismissed. According to sources in Chongqing's political and business circles, the downfall of Hu Henghua and Luo Lin is related to money laundering through stablecoin bribery, and "Peng Jing may be a key figure in this, helping others launder money under the guise of collecting legal fees." Sources say that in the Hu Henghua case, Lin Xiucheng's son-in-law, Lin Kechuang, gave Hu Henghua 30.8 million USDT (approximately 210 million RMB, of which 10 million was a transaction fee). After Hu Henghua was investigated, his cold wallet was seized, and authorities traced the funds in six other cold wallets held by Lin Kechuang; one of these transfers, totaling 15.5 million USDT, was transferred to Luo Lin at the same time as Hu Henghua's transaction, which Lin Kechuang claims was transferred 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. Later, authorities found Luo Lin's cold wallet at a third party's home. (Caixin.com)