⚖️【Chinese Court Cracks Down on $5M Crypto Scam Targeting Indians】
On April 14, a court in Heze, Shandong sentenced 9 fraudsters for telecom fraud targeting Indian victims. Over 66,800 Indians were scammed out of ₹517M (~$5M USD) in just 7 months! 😨
The group lured victims with fake high-return platforms (8–15%/mo), then shut them down and laundered the money via USDT. Sentences ranged from 5 to 14.75 years in prison, with fines. 🪙
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
⚖️【Chinese Court Cracks Down on $5M Crypto Scam Targeting Indians】
On April 14, a court in Heze, Shandong sentenced 9 fraudsters for telecom fraud targeting Indian victims. Over 66,800 Indians were scammed out of ₹517M (~$5M USD) in just 7 months! 😨
The group lured victims with fake high-return platforms (8–15%/mo), then shut them down and laundered the money via USDT. Sentences ranged from 5 to 14.75 years in prison, with fines. 🪙
#CryptoScam #USDT #ScamAlert #Web3