### Cryptocurrency Fraud Case Verdict#

Among the top ten typical cases released by Chengdu Court in 2024, a "GUCS" virtual currency fundraising fraud and money laundering case was disclosed. The case involved defendants Wang Moumou and others, who vigorously promoted the economic value and investment prospects of GUCS coins in Chengdu, Deyang, Meishan and other places, developing downstream lines by recruiting people, ultimately causing losses of over 1.7 billion yuan for more than 29,000 fundraising participants. The court sentenced Wang Moumou to life imprisonment, deprived him of his political rights for life, and confiscated all his personal property. The verdict in this case shows that virtual currency fundraising fraud will be severely cracked down on, and relevant participants should be vigilant to avoid falling into the trap of fraud. In addition, the case also disclosed a dispute over a "mining machine" purchase contract between a Singaporean company and a Sichuan real estate company. The court ruled that the Sichuan real estate company should return the US$836,000 already paid by the Singaporean company, as well as the freight and insurance fees of US$22,534, and rejected the Singaporean company's other litigation requests.