Sichuan man in China loses 3.46 million yuan in "virtual currency" investment scam; police pursue stolen assets across thousands of miles to solve the case and mitigate losses

ME News Report, May 1st (UTC+8), Sichuan Province Gao Ping Public Security recently cracked a virtual currency scam case, where victim Yang was deceived by “net friend” Deng Mouhui into investing in virtual currency, losing 3.46 million yuan.
In December 2025, Yang saw an online advertisement for virtual currency investment and consulted with net friend Deng Mouhui.
Deng immediately recommended a “sure-win” project, and Yang transferred 20k yuan as the first payment.
Subsequently, Deng sent daily screenshots of returns and kept persuading Yang to add more funds.
Under trust and the lure of high returns, Yang invested a total of 3.46 million yuan, agreeing to receive the principal and interest in one lump sum upon maturity.
In April 2026, on the agreed payout date, Yang found that Deng had blacklisted him and disappeared, so he reported to the police.
Gao Ping Public Security traced the flow of funds and analyzed multi-dimensional data, locating Deng hiding in Hunan and Jiangxi.
In late April, they traveled thousands of miles to arrest him, seizing assets worth over 600,000 yuan related to the case.
According to investigations, Deng has no fixed income, is addicted to high consumption leading to heavy debt, and between late 2025 and March 2026, fabricated virtual currency projects to scam money, which was used for buying houses, cars, and repaying debts.
Currently, Deng has been criminally detained, and efforts to recover stolen assets and mitigate losses are ongoing. (Source: BlockBeats)