Tianjin police disclosed a new type of scam involving "virtual currency investment and offline trading," with the amount involved exceeding 500,000 yuan

ChainCatcher news, recently the Tianjin police disclosed a new type of scam involving "virtual currency investment and offline trading." The police found that the so-called "U coin" investment was just a facade, while the so-called "U merchants" were groups that helped the scammers transfer funds.

Investigations revealed that since July this year, the criminal gang, under the guise of "U merchants," has committed more than 10 cases in Tianjin and surrounding provinces and cities, involving an amount of over 500,000 yuan. Currently, 4 members of the gang have been legally approved for arrest by the People's Procuratorate of Wuqing District, Tianjin.