Lechang Court Sentences Foreign Cryptocurrency Fraudsters

The Lechang Court has handed down prison sentences for criminals who defrauded foreigners using cryptocurrencies, highlighting the severity of China’s crackdown on cross-border scams. The court sentenced perpetrators to terms ranging from six to eight months for losses totalling 4,619.9 RMB ($462), with convictions emphasizing the need for vigilance against fraud targeting foreign investors. 50 such cases have been prosecuted in Guangdong courts since 2024, demonstrating a concerted effort to combat virtual currency scams impacting international investors.