Wu Shuo has learned that the Wenling Public Security authorities have disclosed a virtual currency investment and wealth management fraud case. The victim, Mr. Cui, met a blogger who claimed to be a “senior investment mentor” through social media. After he made profits in the initial stage, he was lured into downloading a fake investment app to carry out so-called “steady profits with no risk of loss” virtual currency operations. Within 20 days, Mr. Cui made a cumulative top-up of 445,000 yuan. When the account showed profits and he attempted to withdraw, he found that the app could not be accessed and the relevant individuals had gone missing. The police remind that virtual currency-related business is illegal financial activity in China. Any act of recommending stocks or coins that promises “high returns, steady profits with no risk of loss” is a scam, and investors should be alert to such high-risk schemes.