đšđ„ A crypto scandal shakes China! đšđ„
Yang Bin, Chinaâs second richest man, was just sentenced to six years in prison in Singapore for a $5 million crypto scam! In 2021, Yang founded A&A Blockchain Innovation, promising 0.5% daily returns from 300,000 non-existent mining machines. In reality, he was using new investorsâ money to pay off the first ones, defrauding over 700 people and raking in nearly $6.7 million.
Charged with conspiracy and operating without a license, Yang pleaded guilty and was fined $16,000. His fraud not only bankrupted investors but also highlighted the dangers of poorly regulated crypto investments. Donât let FOMO get to you â stay informed and vigilant!
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