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According to the "Procuratorial Daily," Lin, Zeng, and Dai conspired to use virtual currency trading as a pretext. During the trading process, they secretly filmed the victim's digital wallet private key and, after the virtual currency was credited, secretly logged into the victim's wallet to reverse the transaction, transferring the related virtual currency back to their controlled accounts. The three committed the crime three times, causing the victim a total economic loss of 660,000 yuan.The first-instance court held that in the absence of a clear judicial interpretation regarding the valuation method of virtual currency and sentencing standards, it was inappropriate to directly determine the amount involved as particularly huge based on the victim's purchase amount of 660,000 yuan. Therefore, they sentenced the three based on "other serious circumstances," imposing prison terms ranging from eight years to five years and six months, along with fines. The Hanyang District Procuratorate of Wuhan City in Hubei Province subsequently filed an appeal, which was supported by the Wuhan City Procuratorate.The prosecution argued that the first-instance court applied the law incorrectly and imposed an excessively light sentence. Prosecutor Dai Wentao of the Wuhan City Procuratorate stated that in the case where the victim had a clear loss amount to refer to, it was contradictory and legally erroneous to claim that the value of virtual currency could not be determined. In judicial practice, using the resale price and transaction price as the basis for determining the amount of theft has become mainstream, and determining the value of virtual currency based on the actual cost paid by the victim has factual, legal, and practical basis.The Intermediate Court of Wuhan accepted the prosecution's opinion in the second instance, revoked the corresponding content of the original judgment, and changed the determination of the theft amount to particularly huge. It sentenced the principal offender Lin to ten years and six months in prison for theft, and sentenced the accomplices Zeng and Dai to eight years in prison each, along with fines.

OKX founder and CEO Star responded to the "hacker attack incident involving a plugin vulnerability by the Wuhan Anshun Technology team" by stating, "The OKX Wallet security team has completed its investigation, and describing the original text as 'OKX wallet vulnerability' is inaccurate. Two points need clarification:This incident is not a security vulnerability of the OKX Web3 wallet. The attack method involved hackers controlling user devices through Trojan software, then stealing locally stored encrypted files and passwords by tampering with webpage JS code to implant hooks or by monitoring keyboard inputs.The OKX Web3 wallet is a 100% self-custody wallet. Private keys and passwords exist only on the user's own device, and OKX cannot access or control user assets. However, if the user's device has already been compromised by hackers, then no wallet—including MetaMask—can guarantee security. It's like a thief has already been able to operate your computer and see all your keyboard inputs.Users are advised to avoid installing software or plugins from unknown sources, regularly check device security, and properly protect their mnemonic phrases and private keys."It is reported that the Wuhan Anshun Technology team controlled a large number of user terminals to steal mnemonic phrases and remotely transfer digital assets, with the amount involved reaching 7 million dollars.

ChainCatcher news, the Public Security Bureau of Dongxihu District, Wuhan City, Hubei Province, has dismantled a gang involved in telecom fraud. The suspects forged scripts of "high-quality blind date women" for matchmaking, luring netizens to fake platforms for virtual currency investment scams. A total of 30 criminal suspects were arrested, with 27 of them currently in criminal detention and 3 in administrative detention. The police are further handling the case according to the law.

ChainCatcher news, according to Ping An Wuhan reports, the police in Dongxihu, Wuhan, have dismantled a scam den hidden in the countryside, arresting 32 criminal suspects, 20 of whom have been criminally detained. This gang impersonated "rich beauties" for online dating, promoting virtual currency investment returns, and luring victims to invest in virtual currencies on fake platforms, creating a controllable illusion of "high returns," which in reality could not be withdrawn, with funds ultimately flowing into the scammers' accounts.

ChainCatcher news, according to Ping An Wuhan reports, the Wuhan Qingshan police recently successfully solved a virtual currency trading fraud case, recovering 200,000 yuan in losses for the victims. The suspects committed the fraud by using the "coin chopping" method, claiming they had not received the virtual currency transferred by the victims and refusing to pay the agreed amount in RMB. Currently, two suspects have been criminally detained in accordance with the law. The police remind that transactions related to virtual currencies are not protected by law.

According to Jingchu Net, the Qingshan police, under the guidance and support of relevant departments of the Wuhan Public Security Bureau, successfully dismantled a criminal gang that used USTD virtual currency to help an overseas fraud group launder money. This was achieved through the tracking of a recently reported electric fraud case, which led them through Wuhan, Changsha, Nanchang, and Xiangxi. Six suspects involved in the case were arrested, with the total amount involved preliminarily identified as over 6 million yuan, and 23 Apple phones along with some high-end liquor were recovered.

ChainCatcher news, according to China National Radio, the Wuchang District Branch of the Wuhan Public Security Bureau has successfully dismantled a gang that used virtual currency for money laundering through the collaboration of three centers: the "Intelligence, Guidance, and Action" Integrated Center, the Law Enforcement Case Management Center, and the Synthetic Operations Center. Seven arrest teams simultaneously conducted operations in provinces and cities such as Deyang in Sichuan, Changchun in Jilin, and Dongguan in Guangdong, resulting in the criminal detention of 27 individuals. The funds flowing through the accounts controlled by this gang reached 1 billion yuan.Investigations revealed that since April of this year, the suspect, referred to as "Certain," contacted his "superior" through the "Airplane" software to accept tasks, organizing gang members to use proceeds from telecom fraud to purchase digital virtual currency online, which was then transferred to the superior's account, thus helping the telecom fraud gang launder money and earning commissions in the process. Preliminary statistics indicate that this money laundering gang was involved in funds amounting to as much as 1 billion yuan. The case is currently under further investigation.

ChainCatcher news, the People's Court of Wuchang District, Wuhan City has concluded a case involving a contract dispute related to virtual currency "mining". The plaintiff, Zhou, signed a "Storage Server Purchase Contract" with the defendant, a technology company, on July 7, 2021. Both parties agreed that Zhou would purchase an IPFS storage server for 179,800 yuan. The IPFS storage server was to be hosted in a data center and managed by the technology company, which guaranteed Zhou that the provided IPFS storage server could offer services on the IPFS network and earn Filecoin rewards, could undergo hardware iteration and upgrades based on network demand, and promised that the amount of coins produced would not be lower than the market average (investment return rate); otherwise, the technology company would make up the difference.After the contract was signed, the technology company managed the storage server purchased by Zhou as agreed. Zhou was able to learn about the daily coin production and pledge release status of the storage server through an application software developed by the technology company. Later, Zhou realized that the virtual currency generated by the storage server was explicitly prohibited by the state, thus bringing the case to court, requesting confirmation of the contract's invalidity, the return of all contract funds, and payment of interest on the funds occupied.After hearing the case, the court held that although the "Storage Server Purchase Contract" signed by both parties was nominally a sales contract for storage servers, its substantive purpose was to purchase computing power storage servers for obtaining virtual currency Filecoin tokens. Combined with the agreement that the purchased storage servers would be hosted in the technology company's data center, it can be seen that the transaction involved in the contract was essentially a "mining" activity using specialized computer equipment to produce virtual currency. Such "mining" activities consume a large amount of energy and produce significant carbon emissions, which is detrimental to the optimization of China's industrial structure and energy conservation and emission reduction, and is not conducive to achieving China's goals of carbon peak and carbon neutrality. Moreover, the production and trading of virtual currency involve multiple risks such as false asset risks, operational failure risks, and investment speculation risks, which harm the public interest. The transaction under the contract violates the principles of green development, harms the public interest, and does not comply with the relevant administrative regulations and regulatory requirements for industrial structure adjustment, thus the contract should be deemed invalid.Both parties bear fault for the invalidity of the contract and should assume civil liability commensurate with their fault. Considering the degree of fault of both parties and the technology company's actual maintenance and use of the storage equipment, the court determined that the technology company should return 120,000 yuan of the contract amount to Zhou. Additionally, since Zhou had fault regarding the contract's invalidity and there was no agreement between the parties on interest for the occupied funds, the court did not support Zhou's claim for interest on the occupied funds. After the judgment takes effect, the parties voluntarily fulfill the legal obligations determined by the effective judgment.

ChainCatcher news, the Wuhan Municipal People's Government has officially released the "Notice on Issuing the Implementation Plan for Promoting the Innovative Development of the Metaverse Industry in Wuhan (2022-2025)." The implementation plan mentions the innovative development of the metaverse industry, aiming to build more than 2 metaverse industry bases and more than 3 key metaverse platforms at a high level by 2025, focusing on key industry sectors to create more than 50 typical metaverse application scenarios and projects, cultivate and introduce more than 200 metaverse innovation enterprises, and establish a pilot area and core area for the innovative development of the metaverse in China with coordinated development of innovation chains, industrial chains, and value chains.The key tasks of the plan focus on strengthening metaverse technology innovation, encouraging metaverse content creation, accelerating the cultivation of metaverse products, and promoting metaverse industry applications. It emphasizes organizational guarantees and policy support, while strengthening data management alongside focusing on carrier construction and improving infrastructure.Compared to the "Implementation Plan for the Innovative Development of the Metaverse Industry in Wuhan (2022-2024) (Draft for Comments)" publicly solicited by Wuhan in August 2022, the officially published plan has undergone significant modifications in content. The content related to NFTs, which attracted some public attention in the draft for comments, has been removed from the official plan. (source link)

According to Chain Catcher news, the information disclosed by the Hubei Provincial Department of Economy and Information Technology shows that recently, the Ministry of Industry and Information Technology officially replied to the Hubei Provincial Department of Economy and Information Technology, supporting the city of Wuhan in creating a national blockchain development pilot zone. Currently, five cities including Suzhou, Guangzhou, Wuhan, Zhengzhou, and Kunming have been approved to build national blockchain development pilot zones. (Source link)

According to Chain Catcher news, the Wuhan Municipal Bureau of Economy and Information Technology reported that the Ministry of Industry and Information Technology has officially responded to the Hubei Provincial Economic and Information Technology Department, supporting Wuhan in creating a national blockchain development pilot zone. Currently, Wuhan has gathered 143 blockchain enterprises, and the next step is to build it into a blockchain city with national influence.It is reported that the "Spark · Chain Network" Wuhan super node, the Blockchain Service Network (BSN) Wuhan urban backbone network, and the Wuhan "City Brain" blockchain central platform are accelerating construction to provide industry users with basic identification service capabilities and cross-chain interoperability capabilities. At the same time, multiple units in Wuhan are deploying and launching blockchain projects to promote application demonstrations. In addition, Hubei Chutian Cloud's "Churong Chain" supply chain finance platform project was selected as the 2022 annual blockchain application scenario leaderboard project, and several enterprises are proposed to be recommended as the first batch of blockchain cultivation enterprises in the city after preliminary review by various districts. (source link)