#Cryptocurrency Scam Exposed: 29,000 People Lose 1.7 Billion Yuan#
Hot Topic Overview
Overview
Chengdu Court released its top 10 typical cases for 2024, among which a "GUCS" virtual currency fundraising fraud case has drawn attention. The defendant, Wang, along with others, promoted the investment prospects of GUCS tokens and developed a downline through recruitment, resulting in losses of over 1.7 billion yuan for over 29,000 participants. Wang was sentenced to life imprisonment, deprived of political rights for life, and all personal property was confiscated. This case serves as another warning to the public that virtual currency investment is extremely risky and they should participate cautiously to avoid falling into scams.
Ace Hot Topic Analysis
Analysis
Among the top 10 typical cases released by Chengdu Courts in 2024, a case of "GUCS" virtual currency fundraising fraud and money laundering was disclosed. The case involved over 29,000 participants, resulting in losses exceeding 1.7 billion yuan. The defendants, including Wang, promoted the economic value and investment prospects of GUCS coins, developing a downline through pyramid schemes. They were ultimately sentenced to life imprisonment, deprived of political rights for life, and had all their personal property confiscated. The exposure of this case once again warns people that virtual currency investment carries huge risks. Investors should be cautious and avoid being deceived. In addition, the case also revealed a dispute over the "mining machine" sales contract between a Singaporean company and a Sichuan real estate company. The court ultimately ruled that the Sichuan real estate company should return the US$836,000 already paid by the Singaporean company, as well as the shipping and insurance fees of US$22,534.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Virtual currency fraud cases are frequent, investors need to invest cautiously and avoid being deceived.
Virtual currency projects have risks, investors should make rational judgments and not blindly follow the trend of investment.
The regulatory intensity of virtual currency trading platforms is insufficient, leading to frequent fraud cases.
Virtual currency fraud cases often use headhunting and high returns as bait, investors should be vigilant and not believe promises lightly.