Recently, the public security organs of Hubei Province successfully solved a major online gambling case involving Virtual Money, which is referred to as China's "first case of Virtual Money."
The case began in July 2021 when the Ji Shan Police Station of the Sha Yang County Public Security Bureau received a report of online gambling. After a two-year investigation, the police discovered that the amount involved in the case reached 400 billion yuan, with more than 50,000 participants. The uniqueness of the case lies in the fact that all gambling transactions and subsequent money laundering activities were conducted through Virtual Money, while the main criminals were located abroad.
Through in-depth analysis of a vast amount of trading data, the task force successfully identified multiple groups of suspects, including core team members, gambling agents, recharge agents, and intermediary agent teams. Law enforcement agencies took decisive action and froze virtual money worth approximately over 1 billion yuan.
At the end of 2021 and the beginning of 2022, police launched operations in multiple provinces, arresting more than 130 suspects. In October 2022, the Shayang County Court issued a ruling to legally confiscate part of the frozen Virtual Money, marking this case as the first in the country to confiscate Virtual Money through a court ruling.
In December 2022, the Hubei Public Security Department launched a transnational pursuit operation, successfully capturing and repatriating three major overseas suspects, further demonstrating the determination and capability of law enforcement agencies to combat cross-border crime.
This case not only reveals the application of Virtual Money in illegal activities but also provides important references for the investigation and trial of similar cases in the future. It reflects the enhanced capabilities of law enforcement agencies in dealing with new types of cybercrime, while also reminding the public to raise awareness of the risks associated with Virtual Money.
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DecentralizeMe
· 2h ago
Cross-border crime will definitely be caught.
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PanicSeller69
· 17h ago
A society governed by the rule of law will surely win.
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GasWastingMaximalist
· 09-04 12:52
Blockchain consumes unlimited energy
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GasFeeNightmare
· 09-04 12:52
Fraud will ultimately pay the price.
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MEV_Whisperer
· 09-04 12:49
One should not do anything morally wrong during the day.
Recently, the public security organs of Hubei Province successfully solved a major online gambling case involving Virtual Money, which is referred to as China's "first case of Virtual Money."
The case began in July 2021 when the Ji Shan Police Station of the Sha Yang County Public Security Bureau received a report of online gambling. After a two-year investigation, the police discovered that the amount involved in the case reached 400 billion yuan, with more than 50,000 participants. The uniqueness of the case lies in the fact that all gambling transactions and subsequent money laundering activities were conducted through Virtual Money, while the main criminals were located abroad.
Through in-depth analysis of a vast amount of trading data, the task force successfully identified multiple groups of suspects, including core team members, gambling agents, recharge agents, and intermediary agent teams. Law enforcement agencies took decisive action and froze virtual money worth approximately over 1 billion yuan.
At the end of 2021 and the beginning of 2022, police launched operations in multiple provinces, arresting more than 130 suspects. In October 2022, the Shayang County Court issued a ruling to legally confiscate part of the frozen Virtual Money, marking this case as the first in the country to confiscate Virtual Money through a court ruling.
In December 2022, the Hubei Public Security Department launched a transnational pursuit operation, successfully capturing and repatriating three major overseas suspects, further demonstrating the determination and capability of law enforcement agencies to combat cross-border crime.
This case not only reveals the application of Virtual Money in illegal activities but also provides important references for the investigation and trial of similar cases in the future. It reflects the enhanced capabilities of law enforcement agencies in dealing with new types of cybercrime, while also reminding the public to raise awareness of the risks associated with Virtual Money.