Hubei cracked a case of a virtual currency platform hiding a "backdoor" scam, involving 77.76 million yuan, with 103 people affected

ChainCatcher news, the Hubei Yunmeng County Procuratorate reported that a "substitution" style virtual currency fraud case prosecuted by the Hubei Yunmeng County Procuratorate has recently upheld the original verdict in the second instance.

He and 3 others manipulated the coin price through an online virtual currency trading platform with a "backdoor," illegally exchanging the encrypted assets pledged by investors for worthless "D coins," resulting in losses exceeding 77.76 million yuan for 103 investors. The four defendants in the case were sentenced to fixed-term imprisonment ranging from three to thirteen years and fined, while the main culprit He’s appeal was rejected.