China’s Crypto Crackdown: 9 Scammers Jailed, Indians Cry Foul

by

China just threw the book at a gang of crypto scammers who thought they could pull a fast one on Indians. Spoiler: they couldn’t. 🚨

In a plot twist no one saw coming, a Chinese court has sentenced nine fraudsters to prison for a crypto scam that duped 66,800 Indians out of a cool $6 million. Because apparently, scamming people across borders is *so* 2023. The scheme? A fake investment platform called Senee, promising monthly returns of 8% to 15%. Because who doesn’t love a good get-rich-quick scheme? 🙄

A local court in China recently sentenced nine Chinese fraudsters to prison terms ranging from five to fourteen years. They targeted Indians for USDT fraud, defrauding a total of 66,800 Indians of about US$6 million.

Chinese news outlet Guancha spilled the tea on April 13, revealing that the People’s Court of Heze Economic Development Zone in Shandong Province handled the trial. The fraudsters used chat apps and fake identities to build trust with their victims, because nothing says “trustworthy” like a stranger on the internet promising you wealth. 💅

He Moutian, the mastermind behind the operation, admitted to meeting an Indian on a chat app and introducing them to the Senee platform. Because, of course, he did. Li Mouwang, another member of the group, played the role of a wealthy Indian woman who used *romantic conversations* to lure men into investing. Because nothing says “true love” like a fake crypto platform. 💔

I met an Indian on a chat app and introduced the Senee network investment platform, using high returns of 8% to 15% monthly to attract investment.

Judge Liu Xilei, who presided over the case, called the scheme “tightly organized” and “well-coordinated.” Because nothing says “professionalism” like a group of scammers catfishing their way to $6 million. 🕵️‍♂️

Read More

2025-04-16 08:57