Shanghai prosecutors disclosed a virtual currency fraud case, with an 8-member gang inducing investors to engage in leveraged trading sentenced to prison

ChainCatcher news reports that, according to market sources, a virtual currency fraud case has been disclosed by the court. An 8-member fraud gang colluded with a virtual currency investment platform, attracting victims by posting low-price exchange information on social media, and impersonating "crypto trading experts" to send forged profit screenshots to gain trust.

The gang colluded with the virtual currency investment platform, taking commissions based on the amount of client investment losses, and then carried out a carefully planned scam. Some members posted low-price virtual currency exchange posts on social media and other platforms to "cast a net." Once someone took the bait, other members approached them as "investment experts," befriending them and sending forged profit screenshots to lower their guard.

In the end, they induced victims to invest with high leverage, and through malicious market manipulation, caused them to "liquidate," with the funds flowing into the pockets of the fraudsters. In March 2025, the Yangpu District Prosecut