The Dinghai District Court ruled on USDT fraud involving over 5 million yuan. Defendants engaged in cryptocurrency transactions to facilitate cybercrime.
From October 2022 to August 2023, the defendants used fake businesses on overseas platforms to perpetrate fraud, receiving victim funds via WeChat.
On August 28, 2023, ten defendants were arrested, receiving sentences ranging from seven months to two years. 877,000 yuan of the illicit funds were returned to victims.
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