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According to Caixin, Lu Moumou, CEO of a certain computing power technology company in Southwest China, was scammed out of over $9.4 million in the United States, approximately 60 million RMB.
Its mining pool reportedly once accounted for about 9% of the global Bitcoin hash rate at its peak.
The report states that Lu Moumou was set up by two brothers claiming to be "Middle Eastern royalty."
The elder brother, claiming to be "Middle Eastern royal son-in-law," asserted he controlled Middle Eastern family funds, international business relations, and resources of local U.S. governments;
The younger brother, meanwhile, posed as a hedge fund manager by mimicking characters from the American TV series "Billions."
The two also recruited Michael Smedley, chief of staff to the mayor of East Cleveland, to endorse them, luring Lu Moumou into signing a cryptocurrency mining farm development contract.