ChainCatcher news, the Shaanxi High Court has released typical cases of cracking down on illegal fundraising crimes, which pointed out that the defendants Shi and Zhu set up an office in Xi'an, using a self-built BRTR platform to issue and trade USDT, QC, and BRTR currencies. They boasted about their company's strength to the public, fabricated a bright prospect for investing in virtual currencies, and used guaranteed principal with high interest and the enjoyment of luxury car usage rights as bait to attract public investment. According to the audit, as of the occurrence of the case, a total of 114 fundraising participants reported the case, with a total fundraising amount of over 6.34 million yuan, of which over 5.16 million yuan has been returned.The court held that the defendants, by issuing and trading virtual currencies, disguised their actions as public fundraising, disrupting the financial order. Their actions constituted the crime of illegally absorbing public deposits, and they were sentenced to four years in prison and fined.

ChainCatcher news, according to reports from the Shaanxi police, the Public Security Bureau of Jingbian County, Yulin, Shaanxi Province, successfully cracked a virtual currency investment fraud case, arresting 4 criminal suspects with a case value of 410,000 yuan.On July 16, 2024, the victim, Wang, reported to the police that he had been defrauded of 410,000 yuan in cash online under the guise of investing in virtual currency. After receiving the report, the criminal investigation team immediately launched an investigation into the case. Through analysis, assessment, and field investigations, they ultimately identified the identities and locations of the 4 criminal suspects. On July 23, the investigating officers successfully arrested suspects Zhai and Li in Zhengzhou, Henan Province. On July 25, suspects Wang and Li were arrested in Kaifeng, Henan Province.Upon investigation, in July 2024, the victim Wang was chatting online with others when he was recommended to invest in virtual currency on a certain app, with the other party claiming to know a system loophole in the app that guaranteed profits. Tempted by the high returns, Wang invested a total of 410,000 yuan in the app.On July 4, suspect Zhai, seeking to profit from cashing out virtual currency, teamed up with Wang, Li, and another Li to drive to Jingbian County, where they conducted a transaction with Wang to sell virtual currency, taking away his 410,000 yuan in cash and making a profit of over 50,000 yuan.Currently, the 4 suspects Zhai, Wang, Li, and Li are criminally detained for fraud, and the case is under further investigation.