Odaily Planet Daily News Recently, the Shanghai Yangpu police successfully solved a case of virtual currency contract trading fraud through meticulous investigation, dismantling a fraud gang of 16 people, with an amount involved exceeding 300,000 yuan. During interrogation, the suspects admitted their criminal activities without hesitation. Based on preliminary investigation findings, the special investigation team fully grasped the modus operandi of this criminal gang, which involved three individuals, Yang, Yu, and others, who posed as 'investment masters' infiltrating various virtual currency investment group chats, directing those with investment intentions in the group to a fraudulent trading platform they set up. They exploited the victims' desire to 'make quick money' by inducing them to conduct multiple transactions to earn high commissions. Subsequently, they manipulated the victims into increasing their investment 'profit and loss ratio', misleading them into thinking that their investment failures were due to their own misjudgment of the market, thereby defrauding them of their money. Currently, Yang, Yu, and 16 other suspects have been subjected to criminal coercive measures by the Yangpu police for suspected fraud, and the case is under further investigation. (Xinmin Evening News)