#Cryptocurrency scams resulted in losses of 1.7 billion.#
Hot Topic Overview
Overview
Chengdu Court released its Top 10 Typical Cases of 2024, among which one case involved a "GUCS" virtual currency fundraising fraud and money laundering case, resulting in losses of over 1.7 billion yuan for over 29,000 participants. In this case, the defendant Wang XX and others developed downlines through referral schemes, promoting the economic value and investment prospects of GUCS coins, ultimately being sentenced to life imprisonment, deprivation of political rights for life, and confiscation of all personal property. In addition, the court also disclosed a "mining machine" sales contract dispute case involving a transaction between a Singaporean company and a Sichuan real estate company, ultimately ruling that the Sichuan real estate company refund the Singaporean company's paid purchase price and freight.
Ace Hot Topic Analysis
Analysis
Among the top 10 typical cases released by Chengdu Courts 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 Moumou, promoted the economic value and investment prospects of the "GUCS" coin, developing a pyramid scheme by recruiting new members. Ultimately, they were sentenced to life imprisonment, deprived of their political rights for life, and had all their personal property confiscated. The exposure of this case serves as a stark warning to people that virtual currency investments carry immense risks. Investors must choose investment projects cautiously to avoid falling into fraud traps. In addition, the case also revealed 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 must return 836,000 USD in payments, as well as shipping and insurance fees of 22,534 USD to the Singaporean company.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Virtual currency fraud cases are frequent, investors need to invest cautiously, avoid being cheated.
Virtual currency fraud methods are diverse, including pulling heads, promoting economic value, etc., investors need to be vigilant.
Virtual currency trading platform supervision is insufficient, leading to frequent fraud cases, supervision needs to be strengthened.
Virtual currency investment is risky, investors need to invest rationally, do not blindly follow the trend.