Recently, the Tianjin police disclosed a new type of scam involving 'virtual currency investment plus offline trading'. The police found that the so-called 'U coin' investment claimed by the criminals was just a facade, and the so-called 'U merchants' were actually groups that helped the scammers transfer funds.
According to investigations, since July of this year, this criminal gang has committed more than 10 cases in Tianjin and its surrounding provinces and cities under the guise of so-called 'U merchants', involving an amount of over 500,000 yuan. Currently, 4 members of the gang have been lawfully arrested by the People's Procuratorate of Wuqing District, Tianjin.