A recent case from Huli District has sparked attention, involving a scheme where 600,000 yuan in cash was used to buy virtual currency, only for the money to be stolen right after the deal. The incident, revealed by the Huli Court, outlines how the events unfolded:

Fan learned through classmates that the victim, Liang, was looking to sell Tether, valued at 600,000 yuan. Fan, along with Zhan and Xiao, devised a plan to act as potential buyers and then steal the cash during the transaction. Xiao gathered 600,000 yuan in cash for the scam. He also brought along five accomplices (who were tried separately), in addition to Fan and Zhan. The group met Liang and his associate, Chen, in a hotel room in Huli District. During the exchange, Xiao handed over the cash, and Chen transferred 85,432 Tethers to Xiao’s designated account by scanning a QR code.

Once the transfer was confirmed, Xiao called his accomplices into the room. Upon Liang opening the door, Xiao, Fan, and the others forcefully grabbed the 600,000 yuan in cash by choking and wrestling the victim, before fleeing the scene. Fan and Zhan were later apprehended by law enforcement in Sanming City, Fujian Province. Both suspects confessed to their involvement in the robbery, detailing the plan and their illegal intentions.

The court determined that Fan and Zhan’s actions, aimed at illegally acquiring 600,000 yuan, constituted robbery. Given the substantial amount involved, both were held criminally responsible. The public prosecutor recommended a prison term of nine to ten years, along with financial penalties. Ultimately, the court sentenced Fan to eight years and six months, with a fine of 12,000 yuan, while Zhan received nine years and a fine of 12,000 yuan. Additionally, both were ordered to compensate the victim, Liang, with 600,000 yuan. #CryptoCrimes $BTC Keep following for more updates on cryptocurrency!

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