China may have dropped out of the crypto race, but the country’s crackdown on related crimes continues as police found a potential rug pull case.
The public security bureau of Chizhou city in the eastern province of Anhui has frozen six million yuan or nearly $1 million worth of crypto assets and arrested eight people for defrauding its investors since last year.Chinese authorities have arrested eight in a rug pull scam involving 50 million yuan or $7.8 million in digital assets as the Beijing crackdown continues.
It all started after an investor reported a loss of 590,000 yuan or $92,882 worth of cryptocurrency in June 2021. After conducting a thorough investigation, the Chizhou police arrested eight people from different provinces, including Guangdong, Sichuan, and Hunan, in December. The police also seized luxury cars and villas from the accused, who allegedly swindled money from investors.
The police have not yet mentioned the name of the malicious DeFi project, but Chinese crypto-journalist Colin Wu
go catch more rug pull er
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China won't 'bully' neighbours over S. China Sea, foreign minister saysChina will not use its strength to 'bully' its smaller neighbours including the Philippines, its foreign minister said on Monday, as he highlighted the importance of settling disputes in the South China Sea peacefully. in the past there was Nazi that hungry for land... What a lie!
Source: Reuters - 🏆 2. / 97 Read more »
Starbucks Expands Coffee Delivery and Services in China Through Tie-Up With MeituanThe partnership with Meituan comes as Starbucks faces increasing competition from well-funded domestic tea and coffee chains in China such as HeyTea and Manner.
Source: NBCDFW - 🏆 288. / 63 Read more »
Billionaire investor Chamath Palihapitiya says 'nobody cares' about Uyghur genocide in ChinaBillionaire investor Chamath Palihapitiya said during a recent podcast episode that “nobody cares” about the ongoing human rights abuses against the Uyghurs in China. ..Because medis hardly put attention on it very few knows about that Based I mean he just said what is the current policy of the biggest companies doing business in China - they do not care about any human rights violations as long as it is in their interest.
Source: CNBC - 🏆 12. / 72 Read more »
China Believes That Omicron Variant Found Its Way to the Country via MailEven as the world battles Omicron, daily cases in China have remained low. Authorities want residents to avoid international mail to curb Omicron spread. Mail, hamsters ! Hi, I am a structural engineer from Iran who have many ideas. I have summarized some of my ideas on my twitter(I suggest look at the idea of generating electricity by gravity). I want to work with companies and investors. Do you want to cooperate? What goes around, comes around !!
Source: IntEngineering - 🏆 287. / 63 Read more »
China cancels Olympic ticket sales as 1st Omicron case confirmed in BeijingOfficials had planned to sell residents seats for Winter Games events, but as COVID spreads, the government will now 'organize spectators' itself. “1st”
Source: CBSNews - 🏆 87. / 68 Read more »
World's largest iPhone plant in China gives sign-on bonus amid Omicron curbsApple's largest iPhone factory is giving up to $1,500 in sign-on bonuses to attract workers amid China's Omicron lockdowns as Chinese New Year approaches 随着中国农历新年的临近，Omicron在中国被封锁，苹果最大的iPhone工厂将拿出高达1500美元的签约奖金来吸引工人
Source: BusinessInsider - 🏆 729. / 51 Read more »