BlockBeats news, January 1, recently, the Yangpu police in Shanghai successfully solved a virtual currency contract trading fraud case through meticulous investigation, dismantling a 16-member fraud gang, with an involved amount exceeding 300,000 yuan.
During interrogation, the criminal suspects confessed to their criminal activities without reservation. Based on the earlier investigation, the special investigation team fully grasped the modus operandi of this criminal gang, which involved Yang, Yu, and 3 others infiltrating various virtual currency investment group chats as 'investment masters', directing interested investors within the group to a fabricated trading platform they set up. Utilizing the victims' psychology of 'making quick money', they induced them to engage in multiple transactions to earn high fees. Subsequently, they manipulated the victims to raise their investment 'profit and loss rate', making them mistakenly believe that their investment failures were due to their misjudgment of the market, thereby defrauding the victims of their money.
Currently, 16 criminal suspects including Yang and Yu have been subjected to criminal coercive measures by the Yangpu police for suspected fraud, and the case is under further investigation. (Xinmin Evening News)