The Public Security Bureau of Yueqing, Zhejiang, has cracked a telecom network fraud case involving virtual currency, with an amount involved reaching 3 million yuan

The Public Security Bureau of Leqing City, Zhejiang Province, has cracked a telecommunications network fraud case involving virtual currency. The criminal suspects induced the victims to invest 3 million yuan to purchase virtual currency and, under the pretext of "a large amount requiring offline transactions," made the victims hand over the money to so-called "acceptance merchants." They even coached her in advance on how to respond to police inquiries. In reality, the so-called virtual currency platform was entirely fake, and the accounts could not be withdrawn at all.

It is reported that 3 million yuan in cash has been recovered, and two involved "runners" have been subjected to criminal coercive measures in accordance with the law. The case is under further investigation.