Self-directed virtual currency trading, defrauding 115,000 yuan, convicted of fraud

Knowing that he did not have enough Tether to sell, but due to his own financial difficulties, he falsely claimed to others that his friend had U coins for sale, taking the opportunity to defraud 115,000 yuan, and was ultimately sentenced for fraud. The specific case details are as follows:

Case details: Wang, who usually enjoys investing in virtual currencies, is active in various virtual currency chat groups. In December 2022, a WeChat friend named Shen, whom Wang added through the chat group, sent a message: urgently needing to purchase U coins worth over 100,000 yuan, and inquired if Wang had U coins for sale.

Due to poor investment leading to financial strain, Wang, seeing that Shen actively proposed to buy such a large amount of U coins, and recognizing that virtual currency trading is in a gray area while the other party was a WeChat friend he had never met, suddenly had the thought of committing fraud.

Wang falsely claimed that a friend he knew had a large number of U coins for sale and was trustworthy. Immediately, Wang recommended another WeChat account he used, 'Cai Duo Duo', to Shen, continuing to communicate as his friend.

To further gain Shen's trust, Wang asked Shen on 'Cai Duo Duo' about the legality of the funds for purchasing U coins and the purpose of the U coins, emphasizing that he would not sell if there were illegal purposes. Seeing the other party being so rigorous, Shen completely let down his guard.

After negotiation, both parties agreed on a price of 115,000 yuan for 16,000 U coins. That evening, after Shen transferred the corresponding money to the bank card provided by 'Qian Duo Duo', he found that his U coin account had not received the corresponding U coins and could no longer contact the other party, prompting him to urgently ask Wang about the situation. Wang claimed he was merely an introducer and would not be responsible if something went wrong, then stopped responding to Shen.

After discovering he had been scammed, Shen reported to the police. Soon after, Wang was arrested in Xi'an, Shaanxi Province, and confessed to the fraud after being brought to justice, compensating the victim for all losses.

Recently, Wang was convicted of fraud and was sentenced to three years in prison with a probation period of three years and six months, along with a fine of 30,000 yuan, as prosecuted by a certain city procuratorate in Jiangsu Province.

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