Hunan police cracked a new type of investment fraud involving virtual currency and a "two-gold-for-cash" scheme, seizing 310 grams of gold.

According to the Beijing Daily, police in Chenzhou, Hunan Province, seized seven packages containing approximately 310 grams of gold suspected of being involved in fraud at a courier transit station. The case revealed that criminals lured victims into purchasing gold offline and mailing it to designated addresses using a combination of "emotional connection" and insider investment information, thus evading fund monitoring. The gold was subsequently converted into cash and transferred multiple times through virtual currencies and overseas accounts to launder money. Police pointed out that "gold and cash" is becoming a new type of fraud, warning victims to be wary of high-yield investment traps.