According to BlockBeats, Shaanxi police reported on July 31 that the Yulin Jingbian County Public Security Bureau successfully cracked a cryptocurrency investment fraud case, arresting four suspects involved in a scheme worth 410,000 yuan.

On July 16, 2024, the victim, Wang, reported to the police that he had been defrauded of 410,000 yuan through an online cryptocurrency investment scheme. Following the report, the criminal investigation team immediately launched an investigation. Through analysis and investigation, they identified the four suspects and their locations. On July 23, the police successfully apprehended suspects Zhai and Li in Zhengzhou, Henan Province. Two days later, on July 25, they arrested suspects Wang and another individual named Li in Kaifeng, Henan Province.

The investigation revealed that in July 2024, the victim Wang was persuaded to invest in cryptocurrency through an app by individuals he met online. They claimed to know a system loophole in the app that guaranteed profits. Enticed by the promise of high returns, Wang invested a total of 410,000 yuan in the app.

On July 4, suspect Zhai, seeking to profit from converting cryptocurrency into cash, along with Wang, Li, and the other Li, drove to Jingbian County. They conducted a transaction with Wang, taking 410,000 yuan in cash and making a profit of over 50,000 yuan.

Currently, the four suspects, Zhai, Wang, Li, and the other Li, have been criminally detained on charges of fraud, and the case is under further investigation.