Three men were sentenced for setting up a Bitcoin scam and making more than 150,000 yuan

Source: Ningbo Daily Original title: "Three men set up a Bitcoin scam and made more than 150,000 yuan in profits and were sentenced"

Investing in Bitcoin sounds great, doesn't it? Little do people know that behind it may be a trap carefully designed by a fraud gang. Recently, after the Ningbo Ninghai Procuratorate filed a public prosecution, the Ninghai Court pronounced a verdict on a telecommunications network fraud case. Three men were sentenced for setting up a Bitcoin scam and making a profit of more than 150,000 yuan.

In early April 2018, Liu, Chen and Mao planned a bitcoin trading business. Liu first purchased the website source code online, then hired someone to create the "Btc Club" platform and set up a server. At the same time, he created advertisements and posted them on WeChat public accounts and other self-media to recruit victims.

Liu was responsible for recruiting victims on WeChat to register on the "Btc Club" platform and then adding them to the WeChat group; Chen acted as a mentor and issued instructions to investment clients, guiding them to recharge and purchase Bitcoin on the platform.

At the same time, he paid special attention to customers in the group who were not familiar with Bitcoin and did not dare to invest, and answered their questions. In order to make customers believe, Mao used multiple small accounts to pretend to be investors and chat in the group, and posted fake profit screenshots. Once the customers were tempted, they could enter the platform and invest money to trade.

In September 2018, Ms. Cui from Ninghai saw this advertisement on WeChat and scanned the QR code to add Liu on WeChat. Ms. Cui downloaded the link sent by customer service Liu, registered on the "Btc Club" platform, and was pulled into a WeChat group.

"The instructor would provide profit orders in the group every day and issue instructions for investors like us to follow him to buy high and sell low. Many people would often post profit screenshots in the group." Ms. Cui couldn't resist the temptation and used Alipay to scan the code to recharge the platform to buy Bitcoin. After investing many times but still unable to withdraw cash, Ms. Cui realized that she was probably deceived and reported the case to the public security organs.

After investigation, it was found that from April to September 2018, Liu and three others defrauded more than 150,000 yuan in property through this method. On September 29 of the same year, the three were arrested by the public security organs. In the end, the court sentenced Liu, Chen, and Mao to fixed-term imprisonment ranging from three years and six months to three years and three months for the crime of fraud, and imposed a certain fine.

" Investing in virtual currency is more of a speculative behavior . Investors should strengthen their awareness of risk prevention and identification capabilities. They should not engage in monetary transactions without confirming the other party's identity. They should not easily trust low-risk, high-return investment products, and especially should not join unverified investment and financial management groups at will. These are often carefully designed traps by telecommunications network fraudsters." The prosecutor reminded.