Wu said that the People's Court of Shanghe County, Jinan City, Shandong Province, heard a contract dispute case involving virtual currency U-coins. The plaintiff Chen transferred more than 70,000 yuan to Wang to purchase U-coins for investment lectures. However, the account showed that the assets were zero, so he sued for the return of the money. The court determined that the two parties had formed a contractual relationship to purchase U-coins on behalf of each other, but according to relevant laws and regulations, virtual currency does not have the attributes of legal currency and the contract is invalid. The court ultimately rejected Chen's lawsuit and ruled that his investment losses should be borne by himself.