A man in Shanghai was scammed out of one million yuan, and the police dismantled a virtual coin money laundering gang.

According to reports from Guangming Network, Mr. Tang from Shanghai was scammed after clicking on a phishing link in a “cash on delivery” SMS and filling out his bank card information, resulting in cumulative losses of over one million yuan. The Pudong police quickly launched an investigation, targeting a criminal gang that used “recruitment” as a guise and assisted in money laundering by registering virtual coin wallets. From April 22 to 23, the police arrested 11 suspects in Qingpu. The main offenders, Miao and Wang, have been criminally detained, and five others have been subjected to criminal coercive measures for suspected concealment and hiding of criminal proceeds. Some funds have been frozen, and the case is still under further investigation.