PANews reported on March 28 that according to the official account of the Ezhou Intermediate People's Court, the Ezhou Court recently successfully concluded two virtual currency network fraud cases. A fraud gang consisting of 34 defendants carefully planned and implemented fraud with the help of a new virtual currency trading platform. Nearly 30,000 people were defrauded in just one year, and the amount involved was 460 million yuan. It is reported that the fraud gang set up the "OURBIT Digital Currency Trading Platform" (Obit Platform), claimed to be "registered in Singapore" and other gimmicks, forged trading K-line charts based on the Bitcoin market trading price, and fabricated the illusion of 9 virtual currency transactions.
After trial, the court determined that the amount involved was extremely huge and the defendants' actions constituted fraud. The court sentenced 34 defendants to fixed-term imprisonment ranging from three to twelve years and fined them. In view of the large number of people involved and the complexity of the case, the court tried the case separately, and the judgments have now come into effect.
