According to BlockBeats, Sichuan police arrested a fraud suspect in late April after breaking a cryptocurrency investment scam that defrauded a victim of 3.46 million yuan. The victim, Yang, was lured into investing in a fake virtual currency project by online contact Deng Mouhui starting in December 2025, who promised guaranteed returns and encouraged repeated deposits with fabricated profit screenshots.
When the agreed repayment date arrived in April 2026, Yang discovered Deng had blocked contact and reported the case. Police traced the suspect across provinces to Hunan and Jiangxi, apprehending him and recovering over 6 million yuan in related assets. Deng is currently in criminal detention pending further investigation.
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