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BTC $64,707.47 -4.28%
ETH $1,861.55 -4.86%
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XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $501.01 -12.51%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

runa

Anhui police have cracked a DeFi "runaway" case involving a value of 50 million yuan, with the related project suspected to be GainSwap

According to Chain Catcher news, the police in Chizhou City, Anhui Province, recently cracked a case involving the illegal acquisition of virtual currency data from computer systems using blockchain technology, with an estimated value of about 50 million yuan. According to Chain Catcher query, the project involved is suspected to be the DEX project GainSwap.It is reported that in June 2021, a person named Wang discovered a newly launched project on the homepage of a digital wallet while browsing the internet on his mobile phone. Believing it to be profitable, he invested approximately 590,000 yuan in virtual currency. The next morning, he found that all the virtual coins he had staked were transferred away by the project party, which also absconded with nearly 8 million dollars in digital assets staked by other investors and shut down the website, going offline. Statistics show that there were hundreds of investors (victims) involved in this project, with a total value of about 50 million yuan.Local police analyzed and found that the suspects (project party) had obtained an audit report from a security company, but the actual code that went live was inconsistent with the audited code. By deploying contract code containing "backdoors," the project party could withdraw the staked assets without the investors' consent and later transfer them across chains into an "anonymous pool" for money laundering.Subsequently, with the cooperation of police from Guangdong, Sichuan, and Hunan, all eight suspects were arrested. The police legally sealed and seized assets involved in the case, including villas worth tens of millions purchased with the illicit funds and luxury cars worth millions, and also froze about 6 million in virtual assets. Currently, the investigation and recovery of losses are ongoing. (Chizhou Public Security Online)
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