TechFlow news, according to Xinmin Evening News, Yangpu police in Shanghai, after meticulous investigation, have successfully cracked a virtual currency futures trading fraud case, dismantling a 16-member fraud gang involved in over 300,000 yuan.
During interrogation, all suspects admitted their criminal acts. Based on preliminary investigations, the task force fully uncovered the gang's modus operandi: three individuals, including Yang and Yu, posed as "investment gurus" and infiltrated various virtual currency investment chat groups, luring potential investors into a fabricated trading platform they had set up. Exploiting victims' desire to "make quick money," they induced repeated transactions to collect exorbitant service fees. Then, by encouraging victims to increase their investment leverage ratio, they misled them into believing that losses resulted from misjudging market conditions, thereby swindling their funds.
Currently, Yang, Yu, and 15 other suspects have been placed under criminal compulsory measures by Yangpu police on suspicion of fraud, and the case is under further investigation.
