Police Bust Large-Scale Virtual Currency Scam Operation, Arrest 14 Suspects
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The police in Qixia County, Taiyuan, Shanxi have dismantled a large-scale cross-provincial virtual currency scam operation and arrested 14 suspects. The suspects, led by one Zhou, had been operating since March 2026, targeting victims through various virtual currency platforms and social media apps. They would manipulate data to create fake losses and force victims to sell their investments, ultimately stealing all their funds. The operation was a result of a month-long investigation following a report from a local resident who had been defrauded of over 600,000 yuan. Over 50 computers, mobile phones, and vehicles used in the crime were seized.
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