The Dongyang People's Court has launched the first round of fund recovery work related to a series of virtual currency fraud cases involving 380 million yuan
ChainCatcher news, the Dongyang People's Court issued a notice on the return of funds in the fraud case involving Zhou Sheng, He Yan, and others. The notice states that based on the effective criminal judgment documents such as Zhe 0783 Criminal First 560 and the information verification registration, the first round of fund return work for the involved funds that have been collected is being carried out. The specific matters are announced as follows: the registration for this fund return work will start from the date of the announcement and will last for 1 month. The recipients of the fund return are investors who have invested in the fraudulent digital currency platforms SIE (later renamed BTUE), CFEX, LKF, GDbit, etc., and have overall losses. The amount of this return is calculated based on the amount of loss and the funds that have been collected, determining a uniform refund ratio.
It is reported that this fund return will be conducted through the release on WeChat official accounts, links, and scanning QR codes to enter the APP for information registration, with backend review and confirmation. After passing the review, the payment will be assisted by the Dongyang branch of the Industrial and Commercial Bank of China.
In August 2019, the Dongyang Public Security Bureau launched an investigation into digital currency fraud platforms such as SIE, CFEX, LKF, and GDBIT, and key members of this fraud group were successively captured and brought to justice. This fraud group fabricated activities related to blockchain technology development, developing digital currency trading platforms through a technical team, forming a complete fraud industrial chain.
In September 2021, according to the Zhejiang Procuratorate, all 171 defendants involved in this digital currency fraud series case, with an amount involved reaching 380 million yuan, were tried and sentenced.
