According to BlockBeats news, on April 27, Mr. Zhu (a pseudonym) from Hangzhou thought he was conducting legitimate transactions on a well-known digital currency trading platform abroad. What he didn't expect was that this platform was actually a counterfeit one. His investment turned into a 'free gift,' with a total loss of 470,000 yuan. What happened? Let's take a look!

You thought it was a teaching post, but it was actually a scammer's traffic strategy.

While browsing Douyin, Mr. Zhu saw a short video about trading virtual currencies.

The investment logic mentioned in the video convinced Mr. Zhu, awakening his desire to invest, so he left a message under the video asking related questions.

Not long after, Mr. A privately messaged Mr. Zhu, saying they could communicate and discuss the cryptocurrency market.

Upon hearing this, Mr. Zhu thought, isn't this just what he needed? So he decisively added Mr. A on WeChat.

Mr. A chatted with Mr. Zhu for a bit and then pulled Mr. Zhu into a cryptocurrency chat group.

In the cryptocurrency chat group, Mr. B added Mr. Zhu on WeChat, chatted a bit, and then pulled Mr. Zhu into another cryptocurrency chat group.

The second group is the key; the group owner is a 'senior investment master in the cryptocurrency circle,' whom everyone calls 'Teacher Wang.'

'Teacher Wang' would send screenshots of trading profits in the group every day, which amazed Mr. Zhu and made him eager to participate.

A few days later, 'Teacher Wang' took the initiative to contact Mr. Zhu and recommended an APP to him, telling Mr. Zhu that trading through this APP would yield very high profits.

Mr. Zhu was also concerned that this might be a scam, so he searched online for information about the APP and found that this platform actually existed and seemed legitimate, looking quite reliable. So starting from July 7, Mr. Zhu began investing on this platform.

At the beginning, under 'Teacher Wang's' guidance, Mr. Zhu's account was consistently profitable, and seeing the soaring returns made him extremely happy!

In less than a week, the funds in Mr. Zhu's account began to incur losses.

At first, 'Teacher Wang' reassured Mr. Zhu that the risks and rewards of trading coexist, urging Mr. Zhu to prepare more funds, assuring him that he would soon recover both his principal and profits.

However, in the subsequent investments, Mr. Zhu's account continued to show losses and he was unable to withdraw! Mr. Zhu finally realized he had been scammed, and by this time had lost over 470,000 yuan.

How the gang 'grew strong' - breaking down the tactics!

The Hangzhou Shangcheng Cyber Police Team immediately began investigating the case and discovered that the trading platform mentioned by Mr. Zhu was a global digital asset trading and exchange platform registered in Singapore.

The fraudulent APP involved in this case was verified to be a counterfeit fake platform, although the content and icon were highly similar, it had reached a level of confusion between genuine and fake.

After further analysis of the fraudulent platform, it was confirmed that this was a counterfeit APP developed and managed by a certain technology company in Hangzhou.

Following this lead, the police discovered that the technology company had six subordinate agents.

Agents directed traffic through various means, and then used WeChat groups where 'teachers' provided guidance, creating a group atmosphere and falsely claiming that high profits could be obtained through guided transactions on the virtual currency investment platform, luring victims into investing on this fraudulent platform.

Subsequently, the 'teachers' in the group used tactics such as high leverage, heavy positions, and unreasonable stop-loss and take-profit strategies to rapidly induce losses for the victims, and added a spike module in the software to artificially manipulate K-line data, leading to client liquidation to implement a 'pig slaughtering plan.'

Arrest scene, capturing all suspects in one go.

In two months, the Hangzhou Shangcheng Public Security Bureau organized over 200 police officers to carry out arrest operations against the platform development company and six subordinate agencies in places such as Hangzhou, Zhejiang, Yili, Xinjiang, Ganzhou, Jiangxi, Wuhan, Hubei, and Xi'an, Shaanxi.

In a single operation, 93 criminal suspects were captured, and an amount of 6.74 million yuan was seized, along with a batch of involved items such as servers, computers, mobile phones, and bank cards.

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