The Shanghai Hongkou Court has accepted a dispute case regarding cryptocurrency "proxy investment" and has transferred the materials to the public security authorities due to criminal suspicion

ChainCatcher news, according to a report by Yicai, the Shanghai Hongkou Court has accepted a dispute case involving cryptocurrency "tokens." The plaintiff, Zhao, invested 700 Ethereum through Xu, an employee of Shanghai Distribution Investment Management Co., Ltd., in 2017 to participate in Polkadot investment, but Zhao did not receive the corresponding DOT tokens for the investment. Shanghai Distribution Investment Management Co., Ltd. stated that Xu terminated his employment contract with them in 2018, and his investment actions were related to the overseas company BLOCKASSET. Additionally, a third party in the case, Sun, indicated that Xu and BLOCKASSET had agreed to treat the 700 Ethereum previously entrusted by Zhao to Xu for investment and transferred to BLOCKASSET as a loan to BLOCKASSET, which has now been returned.

The People's Court of Hongkou District, Shanghai, upon review, believes that according to relevant regulations, if a civil case accepted by the people's court is found to have criminal suspicion after trial, it should rule to dismiss the lawsuit and transfer the relevant materials to the public security or procuratorial organs. The amount involved in this case exceeds 90 million yuan. (source link)