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China's Zhejiang Cashes in 3M RMB in Virtual Currency Fraud Case

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Zhejiang police cracked a crypto fraud case involving 3 million RMB, according to BlockBeats. Suspects tricked victims into investing on a fake platform, claiming large withdrawals needed offline transfers. They also coached victims on how to answer police questions. Funds were handed to so-called redemption agents, but the accounts were non-withdrawable. Authorities recovered the cash and detained two suspects. The probe continues. What is crypto fraud? It often involves fake platforms and false promises.
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