🚨Breaking! University Student Sentenced for Issuing Virtual Currency!

"Post-00s" university student Yang Qichao issued a virtual currency named BFF on an overseas public chain and faced legal consequences due to withdrawing the LP liquidity pool.

On February 20, 2024, the Nanyang High-Tech Industrial Development Zone People's Court in Henan sentenced Yang Qichao to 4 years and 6 months in prison for fraud and fined him 30,000 yuan.

The prosecution accused Yang Qichao of issuing a false virtual currency, leading others to mistakenly believe in it and recharge 50,000 USDT. He then quickly withdrew the funds, resulting in a loss of 50,000 USDT for the victims, constituting fraud.

Yang Qichao defended himself by saying: "I just took back the money that others cut from me; I have also suffered losses."

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