Shanghai court rules on a digital collectible fraud case, involving an amount of approximately 1.8 million yuan

According to ChainCatcher news, as disclosed by the "Shanghai Prosecutor" public account, the Jinshan District Court of Shanghai recently made a ruling on a digital collectibles fraud case. Two suspects built a digital collectibles trading platform, packaging AI-generated images purchased at low prices as digital collectibles with investment value for sale.

The suspects attracted investors by fabricating overseas identities and promising capital protection buybacks, and created a false appearance of active trading in the secondary market through self-buying and selling. The case occurred between October and December 2023, resulting in investor losses of approximately 1.8 million yuan.

In January 2025, after the Jinshan District Prosecutor's Office of Shanghai filed a public prosecution, the two suspects were sentenced to corresponding penalties by the court for the crime of fundraising fraud.