Shanghai Procuratorate discloses virtual currency fraud case: 8 people were sentenced for inducing investors to trade with full leverage, leading to
according to Shanghai prosecutors, the Yangpu District Procuratorate disclosed a case of virtual currency fraud. In this case, an 8-person fraud gang colluded with a virtual currency investment platform, attracting victims through social media by posting information on exchanging virtual currency at low prices, and then pretending to be "coin trading experts" by sending false profit screenshots to gain trust.
The fraud gang induced victims to trade on a designated platform with leverage, causing victims to "burst" through malicious market manipulation and collecting platform commissions based on customer losses. The case involved a large number of people and a huge amount of money.
In March 2025, the Yangpu District Procuratorate prosecuted Peng Moumou and 8 others for fraud. From April to May, the Yangpu District Court sentenced the defendants to 1 to 5 years in prison and fined them. The procuratorate reminds that virtual currency does not have the same legal status as legal tender in China, and related investment transactions are not protected by law. Investors should choose legitimate channels for financial investment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin Updates: MicroStrategy's Bold Bitcoin Investment Stands Strong Despite 57% Drop in Stock Value
- MicroStrategy's CEO reaffirms Bitcoin buying strategy amid market volatility, adding 8,178 BTC for $835.6M. - Despite 57% stock decline, MSTR's Bitcoin holdings reach $61.7B, funded by preferred shares and convertible notes. - Critics question debt-driven model's sustainability, but analysts praise its Bitcoin-per-share growth and $535 price target. - Saylor envisions $1T Bitcoin balance sheet, leveraging appreciation for credit products and reshaping global finance.
Ethereum Updates Today: Buddy Goes All-In on ETH with $13 Million Leveraged Wager Amid Market Slump
- Buddy Huang’s ETH long position was liquidated, prompting a $9.5M reentry amid market turmoil. - Market selloff attributed to macroeconomic pressures, with BTC dropping 28.7% below $90K. - A $1.24B ETH whale added 13,117 ETH despite $1.59M unrealized losses, signaling bullish conviction. - Institutional caution grew as SoftBank exited $5.8B NVIDIA stake, while Coinbase hinted at December 17th product launch. - Buddy’s $13M leveraged bet faces liquidation risk if ETH fails to stabilize above $3,000, highl
The Rapid Drop in COAI Shares: Red Flag or Investment Chance?
- COAI Index fell 88% YTD in Nov 2025, sparking debate over systemic collapse vs undervalued opportunity. - Market sentiment diverges from fundamentals: C3.ai shows 26% YoY revenue growth despite governance crises and $116M Q1 loss. - CLARITY Act regulatory uncertainty, leadership turmoil at C3.ai, and crypto frauds like Myanmar's $10B scam fueled sector-wide selloff. - C3.ai's $724M cash reserves and 69% gross margin highlight resilience, but legal battles and regulatory ambiguity persist as key risks. -
DappRadar's Shutdown Reflects Challenges Faced by the Industry Amid Market Volatility
- Web3 analytics firm DappRadar announced its shutdown due to "financially unsustainable market conditions," causing its RADAR token to drop 30%. - Companies like PG Electroplast and GEM Aromatics reported revenue declines amid U.S. tariffs, GST changes, and raw material costs, reflecting broader economic challenges. - Geox cut 2025 sales forecasts by high single digits after 6.2% year-to-date revenue fall, while cost cuts helped stabilize its EBIT margin. - Tech stocks face volatility: Nvidia downgraded a
Trending news
MoreCrypto prices
More
