According to ChainCatcher news, as reported by NetEase News, a drug dealer born in the 2000s used overseas chat software to sell drugs, employing a "buried treasure" method to hide hundreds of packages of marijuana in green belts across 7 provinces and cities, making a profit of 50 yuan per package. After paying with virtual currency, drug users received photos of the buried locations and dug them up themselves. The police discovered that this drug dealer drove across 7 provinces, digging and burying drugs, and taking location photos, allowing buyers to "treasure hunt" for drugs. He even lived and ate in the car, turning it into a "mobile drug trafficking vehicle." Currently, this suspect has been approved for arrest by the procuratorial organ for the crime of drug trafficking. Related investigations into the case are still ongoing. Since 2024, the Shanghai police have solved 278 drug cases and arrested 791 drug crime suspects.

ChainCatcher news, the People's Court Daily published an article signed by Zhao Liang from the Intermediate People's Court of Shenzhen, Guangdong Province, titled "Disposal of Virtual Currency Involved in Criminal Cases: Challenges, Innovations, and Judicial Responsibility," which points out that virtual currency has corresponding property attributes, and there is basically a consensus in judicial practice.For the need to return compensation to victims or to confiscate, in order to balance the demand for disposing of virtual currency involved in cases with the regulatory policies in the mainland, it can be explored to file and supervise with the People's Bank, foreign exchange management, and other departments, entrusting qualified third-party institutions, in legally judicial jurisdictions for virtual currency trading abroad, such as Hong Kong, to exchange virtual currency for legal tender at market prices through compliant licensed trading platforms, and after cashing out abroad, to handle according to the provisions of the State Administration of Foreign Exchange's "Letter on Issues Related to Opening Foreign Exchange Accounts and Handling Foreign Exchange Income and Expenditure by People's Courts in Foreign-related Judicial Activities." For virtual currencies used in crimes that pose a threat to national security and public interest, such as privacy coins, they can be sent to a "black hole address" for destruction, permanently exiting circulation.

ChainCatcher news, the Hainan Danzhou City People's Procuratorate recently reported that a criminal gang lured victims with the bait of "investing 10,000 to earn 300 daily" in high returns from virtual currency. They promoted "contract trading of coins" through online communities and offline companies, illegally raising over 10 million yuan from 32 clients in just a few months. The continuous devaluation of the purchased virtual currency led to a break in the capital chain, ultimately resulting in a "collapse."The court sentenced the gang to fixed-term imprisonment and fines for the crime of illegally absorbing public deposits.

ChainCatcher news, according to the report from the official account of the Danzhou People's Procuratorate, a certain criminal gang used "contract cryptocurrency trading" as a bait to attract investments in virtual currencies with promises of high returns, illegally absorbing public deposits totaling over 10 million yuan, a huge amount. The Danzhou People's Procuratorate has filed a public prosecution for the crime of illegally absorbing public deposits.After examination, the Danzhou People's Procuratorate determined that the actions of this criminal gang violated the Criminal Procedure Law of the People's Republic of China, constituting a joint crime of illegally absorbing public deposits, and they were sentenced to fixed-term imprisonment and fined.

ChainCatcher news, last night, Yicai published an article titled "The Crypto Circle Sets Its Eyes on LABUBU, Huge Risks Hidden Behind Illegal Speculation on 'Games'." The article pointed out that a virtual currency named "LABUBU" quietly launched recently, leveraging the popularity of trendy IP, and has been listed on multiple exchanges. In the early stages of its launch, the price of this virtual currency once surged sharply, but then experienced a significant decline.A reporter from Yicai saw on the promotional webpage that LABUBU coin is not officially issued by Pop Mart, but was launched by a group of community-driven developers. Industry insiders warn that the launch of LABUBU coin is a typical speculative behavior in the crypto circle, and its huge price fluctuations fully expose the extremely high investment risks behind it. Most of these projects are worthless, and their essence is fraud and pyramid schemes.

ChainCatcher news, according to Bitcoin Laws, Connecticut has passed HB7082, which prohibits the state from accepting, holding, or investing in any virtual currency.The bill also imposes several new requirements on remittance agencies. The bill was unanimously passed in both the House and the Senate, with no opposition votes.

ChainCatcher news, according to the official WeChat account of Southwest University of Political Science and Law, on June 3, at the seminar on "Investigation, Prosecution, and Evidence Collection in Virtual Currency Crimes" hosted by Southwest University of Political Science and Law, senior consultant of Shanghai Xizheng Law Firm and TRON founder Sun Yuchen, prosecutor Li Tao from the Haidian District People's Procuratorate of Beijing, deputy director Wang Dong of the Eighth Procuratorial Division of the Chaoyang District People's Procuratorate of Beijing, vice dean Xie Ling of the Criminal Investigation College of Southwest University of Political Science and Law, deputy chief judge Jiang Jiayun of the First Criminal Division of the Chongqing High People's Court, chief lawyer Niu Juqin of Shanghai Xizheng Law Firm, and lecturer Ye Ning from the Law School of Southwest University of Political Science and Law delivered keynote speeches respectively.

ChainCatcher news, according to CCTV News, the police in Suzhou, Anhui recently cracked a case involving the sale of bank cards for "remote money laundering" using virtual currency, with an amount involved exceeding 80 million yuan. Investigations revealed that the criminal gang formed a "ticketing" group relying on an overseas criminal organization, recruited card dealers through social media, and organized a "card dealer fleet" to collect cards domestically and complete cash withdrawals, purchase virtual currency, and other operations, allowing cross-border fund laundering without the bank cards leaving the country.

ChainCatcher news, according to the Capital Public Security Legal System WeChat account, the Beijing Municipal Public Security Bureau Legal System Division and the Beijing Equity Exchange (hereinafter referred to as "BEE") have established a cooperation mechanism for the disposal of virtual currencies involved in cases, jointly signing the "Framework Agreement on Business Cooperation for the Disposal of Virtual Currencies Involved in Cases," which includes the disposal of virtual currencies involved in cases under the category of "physical submission."The article states that in response to the frequent occurrence of virtual currency crimes in recent years, and addressing the practical issue of "the inability to directly dispose of and cash out virtual currencies involved in cases within the country" as well as the risks of cross-border disposal, the Legal System Division of the Municipal Bureau and BEE have further expanded the cooperation disposal area. They have conducted thorough research and demonstration on the policies, regulations, and operational pathways for such special case-related assets, exploring a new channel for overseas disposal.That is: Public security organs will entrust the physical disposal of virtual currencies involved in cases to BEE. After accepting the entrustment from the public security organs, BEE will select professional service institutions to conduct operations such as testing, receiving, and transferring the virtual currencies involved in cases, and will publicly cash out and sell them through a compliant licensed exchange in Hong Kong. After fulfilling the national foreign exchange management approval procedures, the converted funds will be transferred to the special account for case-related funds of the public security organs and submitted to the national treasury.Currently, this model has been successfully applied to dispose of virtual currencies involved in a case handled by the Shunyi Public Security Sub-bureau.

ChainCatcher news, according to Ping An Wuhan reports, the police in Dongxihu, Wuhan, have dismantled a scam den hidden in the countryside, arresting 32 criminal suspects, 20 of whom have been criminally detained. This gang impersonated "rich beauties" for online dating, promoting virtual currency investment returns, and luring victims to invest in virtual currencies on fake platforms, creating a controllable illusion of "high returns," which in reality could not be withdrawn, with funds ultimately flowing into the scammers' accounts.

ChainCatcher news, according to Futu, Walnut Capital (00905.HK) announced that the company's executive director and controlling shareholder, Meng Pinwen, on May 30, entered into a gift deed with the company's wholly-owned subsidiary, Kulong Holdings, to irrevocably and unconditionally transfer, assign, and convey 170 million AFG tokens, 5.8 billion FOFO tokens, and 10 bitcoins to Kulong.Walnut Capital plans to retain this batch of virtual currencies as reserves and may cash them out at an appropriate time. It will not recognize any income from this donation in its accounts, and will hold it as capital appreciation, which will be classified as intangible assets in the company's financial statements.

ChainCatcher news, according to Jinshi reports, the Cyberspace Administration of China has recently worked with financial regulatory authorities to legally deal with a number of accounts and websites that spread false information about the capital market, engage in illegal stock recommendations, and hype virtual currency trading. Here are some typical cases reported:Accounts such as "Ai Gu Piao APP" published false information about the capital market.Accounts such as "Kan Ge Shuo Cai Jing" engaged in illegal stock recommendations.Accounts and websites like "Huo Ge Liao Jia Mi" promoted and hyped virtual currency trading.Accounts such as "Xiao Bei You" spread information related to the black and gray industries in the financial sector.

ChainCatcher news, according to Southeast Network, the Mawei Court in Fujian recently concluded a virtual currency trading dispute case. A man named Sui paid 18,000 yuan to Ye to purchase virtual currency, which led to a dispute, and he requested the return of the full amount.The court ruled to dismiss the claim, stating that virtual currency does not have the status of legal tender in China, and related transactions violate public order and good morals, thus are not protected by law. The investment risk should be borne by the individual.

ChainCatcher news, according to Ping An Wuhan reports, the Wuhan Qingshan police recently successfully solved a virtual currency trading fraud case, recovering 200,000 yuan in losses for the victims. The suspects committed the fraud by using the "coin chopping" method, claiming they had not received the virtual currency transferred by the victims and refusing to pay the agreed amount in RMB. Currently, two suspects have been criminally detained in accordance with the law. The police remind that transactions related to virtual currencies are not protected by law.

ChainCatcher news, according to official reports, a typical case recently released by the Haidian Court reveals that a user manager of a certain network technology company took advantage of his position to accept bribes and embezzle virtual currency in a virtual currency reward business, with a total amount involved of 9.74 million yuan.The user manager was sentenced to 12 years in prison by the court for the crime of accepting bribes as a non-state worker and for embezzlement. The case shows that from 2014 to 2019, the defendant obtained 6.08 million yuan in bribes by introducing supplier cooperation and profited 3.66 million yuan by cashing out part of the virtual currency through multiple accounts. This case is the longest prison sentence for corruption crimes committed by internal personnel of internet companies in the past five years.

ChainCatcher news, recently, the Haidian Court, in conjunction with the China Internet Association, released the "White Paper on Corruption Crimes by Internal Personnel of Internet Enterprises" and published typical cases.In one case, a user manager of a certain network technology company introduced a supplier to cooperate on virtual currency business, accepted bribes, and embezzled virtual currency for cashing out. Ultimately, the court sentenced him to nine years in prison for bribery and six years for embezzlement, deciding to execute a total of twelve years in prison.

ChainCatcher news, according to a report by Hongxing News, Sichuan Public Security has released 10 typical cases of economic crimes, including the "2 • 6" illegal operation (foreign exchange) case. In this case, since August 2021, Fan, He, Chen, and others set up studios and technology consulting companies in Chengdu, using social networking software to conduct targeted traffic for specific clients. They colluded with domestic agents of overseas foreign exchange institutions to provide illegal cross-border RMB exchange services through methods such as cashing out overseas gift cards and virtual currency trading, with a total amount involved exceeding 3.9 billion yuan. A total of 21 criminal suspects were successfully apprehended in this case, which concluded its investigation in December 2024 and was transferred for prosecution.

ChainCatcher news, according to the Ping An Xianning official account, recently, the police discovered a criminal gang led by Tang Moumou that set up multiple network devices to illegally access the international internet through unauthorized channels, using foreign software to engage in illegal virtual currency and foreign exchange transactions. Five individuals involved were apprehended on the spot, and all equipment used in the crime was seized. The public security authorities have imposed administrative penalties on Tang Moumou and six others, and the case is currently under further investigation.In October 2023, the Xianning police arrested individuals in a similar case, issuing a warning and imposing a fine of 15,000 yuan, along with the confiscation of illegal gains amounting to 90,000 yuan.