CoinVoice has learned that recently, the Yangpu police in Shanghai successfully solved a virtual currency contract trading fraud case after meticulous investigation, dismantling a fraud gang of 16 people, involving more than 300,000 yuan.
During the interrogation, the suspects admitted to their criminal behavior without reservation. Based on previous investigation findings, the special investigation team fully grasped the modus operandi of the criminal gang, where Yang, Yu, and others posed as 'investment masters' and infiltrated various virtual currency investment group chats, directing those interested in investment to a fabricated trading platform they set up. They exploited the victims' psychology of 'making quick money' by inducing them to engage in multiple transactions to earn high commissions. Subsequently, they led the victims to raise their investment 'profit-and-loss ratio,' making them mistakenly believe that their investment failures were due to misjudgment of the market, thereby defrauding the victims of their money.
Currently, 16 criminal suspects including Yang and Yu have been criminally compelled by the Yangpu police for suspected fraud, and the case is under further investigation. (Xinmin Evening News) [Original link]