TechFlow news, on June 18, the Danzhou City Procuratorate in Hainan recently reported that a criminal gang used the high returns of virtual currency—“invest 10,000 yuan to earn 300 yuan daily”—as bait, promoting “contract-based cryptocurrency trading” through online communities and offline companies. Within just a few months, they illegally absorbed over 10 million yuan from 32 clients. The scheme collapsed ("爆雷") when the purchased virtual currencies continuously depreciated, causing a cash flow breakdown. The court sentenced the gang members to fixed-term imprisonment and imposed fines for the crime of illegal public deposit absorption.
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