TechFlow News - On July 30, Shaanxi police reported that authorities in Jingbian, Yulin have cracked an investment scam involving virtual currency, arresting four suspects involved in a case amounting to 410,000 RMB. On July 16, victim Wang reported to the police that he had been defrauded of 410,000 RMB through an online virtual currency investment scam. According to investigations, Wang was chatting online when someone recommended investing in virtual currency via a certain app as a way to earn money. The suspect claimed to know of a loophole in the app's system, guaranteeing risk-free profits. Tempted by the promise of high returns, Wang invested a total of 410,000 RMB into the app.
On July 4, suspect Zhai, seeking profit from cashing out virtual currency, colluded with Wang, Li, and Li, driving to Jingbian County where they conducted a transaction with victim Wang under the pretense of selling virtual currency, taking away his 410,000 RMB in cash and profiting over 50,000 RMB. Currently, all four suspects have been criminally detained on suspicion of fraud, and the case is undergoing further investigation.
