The Supreme People's Procuratorate announced a case of fraud involving fabricated national projects related to virtual currency, with funds defrauded exceeding 6 million yuan

ChainCatcher news, the official website of the Supreme People's Procuratorate has announced a case involving the fabrication of false national project implementation for fraud related to virtual currency. The suspects attracted members to participate by posting promotional information on social media, holding online meetings to explain the benefits of the project, and within just six months, they attracted over 1,900 participants nationwide. Members participating in the project were required to convert RMB into USDT for recharge and transfer on the software.

According to the judicial accounting appraisal of electronic data by the Huimin County Procuratorate in Shandong Province, the suspects defrauded over 6 million yuan, and they were prosecuted for fraud. The defendants were sentenced to imprisonment for three years and six months to three years.