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- 🍁 Golden Autumn, Big Prizes Await!
Gate Square Growth Points Lucky Draw Carnival Round 1️⃣ 3️⃣ Is Now Live!
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🗓️ Deadline: October 8, 2025, 24:00 (UTC+8) - 🥊 You’ve entered the Trading PK Arena, matching your opponent now...
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Young College Kid's DOGECOIN Scam Lands Him Behind Bars
I can't believe what some people will do for a quick crypto buck! This story out of China has me fuming. A college kid named Yang Qichao just got slammed with over 4 years in prison for pulling one of the dirtiest rug pulls I've ever seen.
This punk, barely out of his teens, created a fake "BFF token" that piggybacked on Dogecoin's popularity. He set up liquidity of 300,000 BSC-USD and 630,000 BFF tokens, making it look legit. Then came the sucker punch - just 24 SECONDS after an investor named Luo put in 50,000 BSC-USD, Yang yanked the liquidity!
Poor Luo was left holding worthless tokens worth just 21.6 BSC-USD. Talk about getting robbed in broad daylight! And when Luo tracked him down through WeChat and demanded his money back, this entitled brat refused!
I've seen my share of crypto scams, but this one's particularly cold-blooded. The speed of it - 24 seconds! That's not a mistake or "market volatility" - that's premeditated theft.
The court in Henan Province didn't mess around - 4.5 years in prison plus a 30,000 yuan fine. Too lenient if you ask me! These scammers are why regular folks stay away from crypto. They poison the well for legitimate projects and investors.
When I first got into trading, I lost money too - but that was on fair market movements, not because some college kid literally stole it from under me. I wonder how many other victims are out there who didn't report it?
The worst part is that this type of fraud keeps happening across different tokens and chains. I've personally watched friends lose thousands to similar schemes. The technology is revolutionary, but the lack of oversight attracts these predators.
Got any wild crypto fraud stories yourself? Or want more info on how to spot these scams before they happen? Drop a comment below!