According to CoinDesk news on April 29, as reported by the web3 Radar public account, the criminal investigation team of the Jiashan County Public Security Bureau recently successfully uncovered a virtual currency investment fraud case, dismantling several hidden fraud hideouts and arresting 17 suspects on the spot, seizing over 100 electronic devices including mobile phones and computers used in the crime.
In late March, a local resident, Ms. Lin, reported to the Jiashan County Public Security Bureau, stating that she was deceived while investing on a virtual currency trading platform.
It was learned that Ms. Lin saw a promotional video about 'high-yield virtual currency investments' on a short video platform. Through the comment section, she added a friend who claimed to be 'Liu'. The other party gradually gained Ms. Lin's trust with phrases like 'professional team guidance' and 'zero risk guaranteed profits', and claimed that a 'certain virtual currency' had great potential for appreciation, enticing Ms. Lin to make a purchase.
At the beginning of Ms. Lin's investment, the virtual currency indeed experienced a surge. Under the deception of the other party's 'flowery words', she added another investment of over 200,000 yuan. However, when Ms. Lin checked her earnings again, she found that the price of the purchased virtual currency had rapidly dropped to zero in a short time, and she could no longer contact her guide 'Liu', finally realizing she had been scammed.
Accurate analysis to uncover the fraud gang.
After receiving the report, the criminal investigation team of the Jiashan County Public Security Bureau quickly launched an investigation. It was discovered that the scammers were diverting traffic from short video platforms, establishing trust with investors, guiding them to purchase 'sham' virtual currencies, and then using technical means to manipulate prices, causing the virtual currencies to drop to zero in the short term and restricting investors from selling, resulting in funds only going in and not out, ultimately leading to financial losses.
As the investigation deepened, the special case police discovered that the suspects were using the decentralized nature of virtual currency to evade fund tracking, and also eliminated traces of crime by creating fictitious personas.
After continuous efforts by the special case police, and through massive data collisions, they ultimately broke through the multiple barriers set by the suspect, uncovering a real fraud group in the virtual world...
Staking out, swiftly capturing the suspects.
As the investigation progressed, the organizational structure of the gang gradually became clear. To further clarify the personnel structure and distribution of the gang, the criminal investigation team immediately organized a dedicated police force to go to the suspects' hideouts for operations.
Due to the complex local terrain, the police could only disguise themselves and conduct investigations locally. After 7 days of continuous shifts and on-site investigations, they finally figured out the distribution of 4 hideouts and the activity patterns of the gang members in the area.
After pinpointing the specific location of the suspects, the Jiashan County Public Security Bureau organized over 50 police officers to rush to the suspects' hideouts, collaborating closely with local police to carry out the capture operation, successfully dismantling 4 involved hideouts.
During interrogation, the apprehended suspect confessed to the aforementioned criminal facts without hesitation.
Currently, the main suspects of the fraud gang have been criminally detained by Jiashan Police for suspected fraud, and the case is under further investigation.
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