PANews January 1 news, according to the Xinmin Evening News, Shanghai Yangpu police successfully solved a virtual currency contract trading fraud case, dismantling a fraud gang of 16 people, with an amount involved exceeding 300,000 yuan. The criminal suspects induced victims to raise their investment 'profit and loss rate' through a fake virtual currency trading platform, making them mistakenly believe that their investment failure was due to their own misjudgment of the market, thus defrauding the victims of their money. Currently, the criminal suspects have been criminally detained by Yangpu police on suspicion of fraud, and the case is under further investigation.