It is no secret to anyone that the Chinese government has recently been waging a fierce fight against the cryptocurrency industry, not giving it the slightest chance for its development. However, despite this, various fraudulent groups continue to carry out illegal cryptocurrency fraud, deceiving gullible citizens.
Against the background of the above, the local police are actively working to identify and eradicate such crypto-scams. So, recently, law enforcement agencies in the city of Chizhou (eastern Anhui Province) managed to arrest eight suspects in the case of fraud with digital assets, as well as freeze the crypto profit they received in the amount of $8 million.
The law enforcement report indicates that the scammers organized a scheme through which they managed to transfer investors' funds to an "anonymous pool", after which the trace of their further transactions was lost.
The investigation directly into this case began after one of the depositors discovered the loss of his funds for more than $ 90,000 and contacted the police. During the proceedings, "guards of order" identified several more victims. It should be emphasized that in total, the fraudsters managed to seize assets worth 50 million yuan ($7.8 million).
Trending: Salvadorans are against buying bitcoins at the expense of the budget
The investigation began in June 2021. According to reports, only after 6 months, it was possible to detain the criminals.
It is known, among other things, that elite real estate, which the offenders managed to acquire, was also confiscated.
By the way, the police do not name either the name of the crypto-project of the attackers or the platform based on which they conducted their criminal activities. Only one of the journalists was able to get information on this topic, in his material he indicated that swindlers used an Internet platform called GainSwap to carry out their “dirty deeds”.
Trending: The SEC Has Officially Handed Over Hinman Docs to Ripple
At the end of this material, it would not be superfluous to add that the Chinese authorities not so long ago reported on the work carried out aimed at combating digital assets. So, it is said in the message, in the last months of 2021, it was possible to solve 259 cases related to money laundering in cryptocurrency. The total amount of confiscated digital assets is 11 billion yuan ($1.7 billion).