According to ChainCatcher, citing the perspective of Dahe, the People's Court of the Economic Development Zone in Heze City, Shandong Province, tried a telecommunications network fraud case targeting Indians involving virtual currency "killing foreigners", where criminals used high returns as bait to attract Indians to invest money, and then purchased 'USDT' virtual currency through third-party payment platforms, exchanging the virtual currency into RMB or USD while taking a 15% profit.
After trial, the court confirmed that from June 1, 2023, to January 13, 2024, within just over 7 months, 66,800 Indians were defrauded, with the fraud amount reaching 517 million Indian rupees (approximately 40 million RMB), and 9 fraudsters were sentenced to imprisonment ranging from five to fourteen years and nine months, along with fines.
