According to Wu's report, the Yangpu police recently cracked a virtual currency contract trading fraud case, dismantling a 16-person fraud gang, with the amount involved exceeding 300,000 yuan. According to police investigations, the suspects built a fake virtual currency trading platform, disguised themselves as "investment masters" to infiltrate investment groups, attracted victims to download the platform through fake screenshots, and induced them to engage in high-frequency trading to earn high commissions while artificially inflating the investment "profit and loss rate" to create a false sense of loss. Currently, Yang and 15 other suspects have been subjected to criminal coercive measures in accordance with the law, and the case is under further investigation.