Jiangsu police uncovered a Crystal International blockchain scam involving over 10 million yuan

On November 20, Jiangsu police uncovered the Cambodia Crystal International blockchain scam. The suspects introduced stock quotes, launched blockchain digital currency transactions, and taught how to use the Crystal International App in the live broadcast room, luring victims to register and recharge.

The Ministry of Public Security instructed the Jiangsu Provincial Public Security Department to handle the case. The Jiangsu Provincial Public Security Department handed over more than 90 suspects to the Huai'an Municipal Public Security Bureau for investigation. During the investigation, it was discovered that this was an organized, disciplined, hierarchical and division of labor criminal gang.

After retrieving the backend data of the "Crystal International" platform, the police found that the platform was mainly operated in Cambodia. The Hu Yue Group managed by the defendant Wang Ping defrauded a total of 1.24 million US dollars from 69 victims, equivalent to 8.62 million yuan; the "Ming Bei Group" managed by the defendant Sun Qing defrauded a total of 310,000 US dollars from victims, equivalent to 2.17 million yuan; the "Qitian Group" managed by the defendant Hu Li defrauded a total of 110,000 US dollars from 25 victims, equivalent to 760,000 yuan.

The prosecutor reminded that blockchain is a new way of data management based on cryptography, and the earliest appearance of blockchain was indeed accompanied by Bitcoin and currency speculation. However, "Crystal International" is not a real blockchain at all. The fraud gang manipulates the rise and fall of the index in the background, and the rise and fall of the index are all artificially manipulated. Blockchain is just a technical means and does not create value itself. Investors should be vigilant and not be confused by exaggerated profit returns. They must remember that high returns have high risks and investment should be cautious.