32 Suspects Arrested in Wuhan for Crypto Investment Fraud Scheme

Authorities in Wuhan’s Dongxihu district have taken down a rural-based fraud operation, arresting 32 individuals, with 20 being held pending further investigation. The scheme involved creating false narratives about wealthy and attractive people to lure victims into fake cryptocurrency investment platforms. Scammers used elaborate scripts to gain the trust of potential victims, boasting about unreal returns to entice them. Once interest was shown, they were directed to fraudulent websites to purchase virtual currencies and invest in sham programs. Victims, however, found themselves unable to withdraw their funds. The investigation remains ongoing.