It's hard to say who is right and who is wrong

In 2022, college student Yang issued a virtual currency, and Luo quickly invested $50,000. As a result, Yang withdrew the fund pool within 24 seconds. Luo thought he was cheated, so he reported the case in Nanyang. Yang was sentenced to 4 and a half years in prison and fined 30,000 yuan in the first instance.

There are several interesting details in this case. First, Yang is a Hangzhou college student born in the 2000s, who can add $300,000 of liquidity to the pool. Secondly, Luo bought in the first second of the opening, and then kept selling within a few seconds. It is obvious that he is using scripts to arbitrage, commonly known as "hair-pulling man" or "scientist".

What's more interesting is that the two seem to be group friends. Luo found Yang through a common WeChat friend, which means that Yang may have leaked the news, or they are in the same group. Luo failed to claim compensation from Yang, and Yang also said: "I just cut my cut point back, I was cut a lot." Luo then called the police, leading to this trial.

What's even funnier is that Luo didn't actually lose money. The case mentioned that Luo made a lot of money, and now the price of the currency is higher than the $50,000 he invested, which means that Luo's loss was only momentary.

There are several legal points in this case that are worth discussing. Yang was convicted of fraud because his actions and language showed the purpose of illegal possession and used deceptive methods. If this logic is established, Luo's behavior is actually similar. He has a clear understanding of this currency, and his purpose is to sell it to the people behind him, and to lure the leeks to take over by carrying a sedan chair, which is also close to fraud. However, since there are no other victims to file a case, in this case, Luo is the victim and Yang is a fraud suspect. If other people file a case in the future, Luo may also be suspected of fraud.

Another controversial point is whether virtual currency is considered property. The prosecution converted the $50,000 defrauded by Yang into RMB 330,000, which became the basis for sentencing. Yang's defense lawyer believes that the state does not recognize the legal compensation of virtual currency and cannot directly convert RMB according to US dollars. In this case, the national regulations have become the basis for Yang's defense.

There are huge differences between the official and private views on virtual currency. The official believes that legal acts related to virtual currency are invalid and losses are borne by themselves;But at the same time, related cases were filed and handled. This contradiction made the situation very confusing. $BTC