Air-drop scams plus face recognition payments—this stitched-together scam can only fool beginners; a 10-year prison sentence is considered “light.”

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Zhejiang Taizhou Cyber Police Report on Encryption-Related Fraud Cases, Victims' Total Losses Approximately 35 Million Yuan
Zhejiang Taizhou Cyber Police reported a scam case using the Metaverse and virtual currency as a pretext.
The gang promoted face recognition payment devices, attracted traffic, then induced investors to buy their self-issued "air coins," and continued to extract money through locking positions, price control, and currency exchange methods.
The case involved more than 130 investors and approximately 35 million yuan in funds.
The court determined that the criminal purpose was clear, and the amount involved was particularly large, sentencing the defendant to 10 years in prison and a fine of 200k yuan.
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