“Coin Master” man was sentenced to 11 years and 6 months in prison for defrauding 4.7 million yuan (from CoinsRadar.net):

I accidentally met the so-called "coin circle master" and thought that a great market was coming. Unexpectedly, after joining the heavy position, my position was liquidated overnight. What investors didn't expect was that the ultimate goal of the investment platform behind it was to defraud customers of all their invested capital. Recently, after the Chongming District People's Procuratorate filed a public prosecution, the Chongming District People's Court heard such a case. The court finally convicted Deng of fraud and sentenced him to 11 years and six months in prison.

“The Great God of the Currency Circle” Encourages to Increase Positions

In exchange for one after another liquidation of positions

In February 2019, Mr. Wang saw an article about virtual currency in Moments. After reading it, he felt that the analysis of the article was very reasonable, so he added the WeChat account of the author "Coin Detective" based on the information provided in the article.

After that, Mr. Wang often exchanged knowledge about virtual currency investment with him, and he came up with the idea of ​​following the "Coin Detective" to invest in virtual currency. So under the recommendation of "Coin Detective", Mr. Wang downloaded and registered a virtual currency investment platform called "Tobi Global".

Under the guidance of "Coin Detective", Mr. Wang first purchased a virtual currency called USDT on "Tuobi Global", and then used USDT to buy and sell other virtual currencies to make investments. "Coin Detective" will inform Mr. Wang of the trend in advance and tell him at what point to buy or sell.

At the beginning, Mr. Wang operated based on the buying and selling advice provided by the "Coin Detective", and overall it was profitable. This made Mr. Wang more convinced that he had followed the right "teacher". At the same time, Mr. Wang's friends saw him making money. After getting money, they also opened accounts and invested on the "Tuobi Global" platform. "Coin Detective" also established a special WeChat group for Mr. Wang and his friends to issue operational suggestions. With Mr. Wang's profitable case, everyone has no doubts about the operation suggestions provided by "Coin Detective".

Until one day, "Coin Detective" encouraged in the group: "One of the rare good market trends in history is coming. Bitcoin is going to plummet. This is a once-in-a-lifetime event. You should join in with heavy positions." So Mr. Wang and his friends kept adding positions. But not long after Bitcoin began to rise, the "Coin Detective" said in the group that they would mobilize funds to suppress it, and the price of Bitcoin would definitely fall, and gave suggestions to continue to increase positions.

In this way, after listening to the advice of the "Coin Detective", Mr. Wang and his friends began to increase their positions again, but the price of Bitcoin continued to rise. In the end, what they waited for was a series of liquidation messages from friends in the group. .

final goal:

Defrauding customers of all their principal

Realizing that something was wrong, Mr. Wang reported the matter to the police in March of that year. After filing an investigation, the public security organs arrested the criminal suspect Deng and others.

After investigation, Deng and others established Hainan Airlines Darifeng Business Consulting Co., Ltd. in 2018 and provided speaking skills training to its salesmen, allowing them to package themselves as successful virtual currency investors and use chat tools to Looking for customers who invest in virtual currencies and luring them to trade on platforms such as "Tuobi Global", the director and team leader of Hangda Ruifeng Company send trading instructions to customers through salesmen, requiring customers to trade frequently in order to collect high fees .

The "coin detective" that Mr. Wang got to know was not a great god in the currency circle. He was just a salesman of Hangda Ruifeng Company, and the operating instructions he provided to Mr. Wang were just words provided by the company.

At the same time, since the customer's operation is to buy and sell up and down, and will not directly invest in virtual currencies, the funds invested are circulated within the "Tuobi Global" platform. Hangda Ruifeng Company has agreed with the "Tuobi Global" platform that for The client's lost funds will be divided into eighty-two shares. Therefore, in the instructions given to the salesperson, customers will be constantly guided to carry out heavy position operations. When the customer's operation is profitable, they will be encouraged to close their positions in time. Once the market trend is opposite to the customer's operation, the customers will be encouraged to continue to cover their positions. , carry the order until the position is liquidated.

Even the merchants that Mr. Wang purchased USDT virtual currency on the platform were “shills” hired by the platform. The purpose of a series of operations is to defraud customers of their invested capital. It was later confirmed that Deng defrauded all investors out of a total amount of 4.7 million yuan.

The procuratorial organ believes that Deng, as the principal criminal, collaborated with others for the purpose of illegal possession, fabricated facts, concealed the truth, and defrauded the victim of a huge amount of money. His behavior violated the provisions of the criminal law. After the Chongming Procuratorate initiated a public prosecution, the court finally made the above judgment. .