### Cryptocurrency Fraud Case Verdict#
Hot Topic Overview
Overview
Recently, Chengdu courts released the top ten typical cases of 2024, two of which involved virtual currency fundraising fraud and "mining machine" sales contract disputes. In one case, the defendant Wang Moumou and others used the "GUCS" virtual currency as a guise to engage in fundraising fraud in Chengdu, Deyang, Meishan and other places, resulting in losses of over 1.7 billion yuan for over 29,000 participants. Wang Moumou was sentenced to life imprisonment, deprived of political rights for life, and all his personal property was confiscated. In another case, a Sichuan real estate company signed a "mining machine" sales contract with a Singaporean company, but failed to fulfill its delivery obligation, and was ultimately ordered to return the purchase price and freight paid by the Singaporean company. The judgments in these two cases serve as a reminder that virtual currency investment is extremely risky and should be approached with caution, and people should also be wary of contract fraud.
Ace Hot Topic Analysis
Analysis
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 over 29,000 participants and resulted in a total loss of over 1.7 billion yuan. The defendants, including Wang, used the "GUCS" virtual currency and its associated software "Wa11et Pro" APP to hype the economic value and investment prospects of GUCS coins in Chengdu, Deyang, Meishan and other places. They developed a network of downlines through pyramid schemes and were eventually sentenced to life imprisonment, deprived of political rights for life, and had all their personal property confiscated. The verdict of this case once again warns people that virtual currency investment is extremely risky. Investors should carefully choose investment projects and avoid falling into scams. 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 ultimately ruled that the Sichuan real estate company should return the US$836,000 already paid to the Singaporean company, as well as the freight and insurance fees of US$22,534.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Virtual currency fraud cases are serious, resulting in huge losses for investors. For example, the "GUCS" virtual currency fundraising fraud case disclosed by the Chengdu court involved over 29,000 participants and a total loss of over 1.7 billion yuan.
Virtual currency fraud cases often involve recruiting people and promoting investment prospects, using investors' lack of understanding of virtual currencies and investment psychology to deceive them.
The court's verdict on virtual currency fraud cases is severe. For example, the Chengdu court sentenced the main culprit to life imprisonment, deprived him of political rights for life, and confiscated all his personal property.
Virtual currency investment is extremely risky. Investors should invest cautiously to avoid being scammed.