China police seize $15 millions from fraudsters who sold fake tokens.

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Avatar for prominentafricancrypto
3 years ago

A new group of fraudsters have been flagged and their money seized by Chinese police, who discovered a new scheme promoted by this criminals who sold fake tokens on Telegram. The Cops seized almost $15 millions (100 million yuan) worth of crypto from this scammers who had their business run on several telegram groups.

The group promised their victims to sell them Huobi tokens to their investors but that doesn't happen because this criminals sold fake assets, this ones couldn't be sold on exchanges, they wasn't legit Huobi tokens.

Tokens to fool people

Accordingly to Chinese Ministry of public security that announced the news, the criminals sold fake HT to almost 1,300, to reach their intents the scammers created dozens of telegram groups to promote their fake smart contract and lure Investors with their "amazing" business who promised 8% in arbitrage.

The business ended up to be a scam, where the criminals sold astonishing $15 millions but fortunately the Police seized them. On the operation the police also seized luxury items such a Ferrari worth $430,000 and a McLaren from $570,000, totally of $1.15 million.

I am glad that scammers this time acted on time, beware from scammers!

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Avatar for prominentafricancrypto
3 years ago

Comments

Hopefully the crypto fraudsters will disappear

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3 years ago

That will be difficult to happen 😔 but it's a start, when authorities seize and arrest criminals it's one step thru to fight them back!

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3 years ago

Chinese police are doing well in putting an end to crpto fraudster

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3 years ago