Recently, the Tianjin police disclosed a new type of scam involving 'virtual currency investment plus offline transactions'. The police found that what the criminals claimed to be the so-called 'U Coin' investment was merely a facade, while the so-called 'U Merchant' was a group that helped the scammers transfer funds.
According to investigations, since July of this year, this criminal gang has committed over 10 crimes under the guise of the so-called 'U Merchant' in Tianjin and surrounding provinces and cities, involving an amount of over 500,000 yuan. Currently, 4 members of this gang have been legally arrested by the Tianjin Wuqing District People's Procuratorate.