#BTC involved over 5 million yuan, Jinan police dismantled a "cash for U" fraud gang.

New Yellow River

2025-4-318:53 Shandong New Yellow River Client Official Account

Recently, a citizen of Jinan, Xiao Ru (pseudonym), hurriedly went to the Shizhong Road Police Station of the Shanghe County Public Security Bureau in Jinan to report that she had been scammed out of more than 800,000 yuan after investing in virtual currency.

At the beginning of this year, Xiao Ru added a "training teacher" who claimed to be able to improve her child's grades. The teacher also showcased a series of investment "talents" and a "luxurious" lifestyle to Xiao Ru. After getting to know each other, this "teacher" began to encourage Xiao Ru to invest together. Initially, Xiao Ru did not believe in such a windfall, but when the teacher personally invested over a thousand yuan as initial capital and made over a hundred yuan in profit within ten minutes, she became fully convinced and immediately invested 9,800 yuan to "test the waters." To her surprise, she immediately received a "cashback" of 10,388 yuan.

"Sister, new users get multiple bonuses for deposits." "Don't worry, we conduct face-to-face transactions; if we can meet, what could be fake?" This "teacher" said to Xiaoru.

It is reported that subsequently, Xiao Ru raised more than 180,000 yuan through online loans and handed the money over to designated "offline traders". In this way, Xiao Ru conducted three more transactions, but each time the person she traded with was different. In total, Xiao Ru recharged over 800,000 yuan.

After that, the "teacher" told Xiaoru that the cash she had deposited had been exchanged for USDT (referred to as "U" coin) and also taught her how to continue to recharge and purchase U coins on the platform. When Xiaoru requested to withdraw money, the other party said that if she wanted to withdraw, she must pay a 35% tax to the platform. Xiaoru felt something was off, so she reported it to the police.

According to reports from the Jinan Public Security Bureau, after receiving the alarm, police carried out an overnight investigation and identified four suspects involved in cash withdrawal crimes. They subsequently went to Anhui, Henan, and other places to apprehend the "cash for U" gang led by Jiang, netting them all. The total amount involved in the case exceeds 5 million yuan. Currently, the suspects have been criminally detained according to the law, and the case is under further review.

According to reports, virtual currency investment and wealth management "USDT", commonly referred to as "U Coin", is gradually gaining a foothold in the investment and wealth management sector due to its stable value and global circulation characteristics, and is even hailed as the "new darling". However, because its transactions possess anonymity and convenience, this type of currency has also become a favored money laundering tool for scammers. The People's Bank of China has made it clear that virtual currencies do not have the same legal status as legal tender and therefore cannot be circulated or used as currency in the market. Do not easily attempt virtual currency investment to avoid inadvertently getting involved in illegal activities.

The police remind that online contact + false investment and financial management + offline cash withdrawal for U coins constitutes fraud. Investment and financial management should be conducted through legitimate channels. Always remain vigilant about high-yield investments and never trust "trades" that claim to only earn without loss, to avoid falling into the trap of online investment and financial fraud.

Reporter: Li Zhen Editor: Han Luying Proofreader: Liu Tian