{"id":22176,"date":"2025-04-15T13:49:14","date_gmt":"2025-04-15T13:49:14","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22176"},"modified":"2025-04-15T13:49:14","modified_gmt":"2025-04-15T13:49:14","slug":"chinese-fraud-ring-jailed-after-scamming-66800-indians-in-6m-crypto-scheme","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22176","title":{"rendered":"Chinese Fraud Ring Jailed After Scamming 66,800 Indians in $6M Crypto Scheme"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Imagine <\/span><span data-preserver-spaces=\"true\">thinking <\/span><span data-preserver-spaces=\"true\">you\u2019ve<\/span><span data-preserver-spaces=\"true\"> found<\/span><span data-preserver-spaces=\"true\"> a promising investment app run by a friendly woman offering 15% returns, only to discover it was part of an elaborate scam run out of another country. <\/span><span data-preserver-spaces=\"true\">That\u2019s<\/span> <span data-preserver-spaces=\"true\">exactly<\/span><span data-preserver-spaces=\"true\"> what happened to tens of thousands of people across India with this crypto investment scam.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a case <\/span><span data-preserver-spaces=\"true\">that\u2019s<\/span><span data-preserver-spaces=\"true\"> as global as it is grim, a Chinese court has sentenced nine people for running a crypto-linked scam that defrauded over 66,000 Indian citizens out of nearly \u20b952 crore (around $6.2 million). The ringleader? A man known only by his surname<\/span><span data-preserver-spaces=\"true\"> \u201c<\/span><span data-preserver-spaces=\"true\">He,<\/span><span data-preserver-spaces=\"true\">\u201d <\/span><span data-preserver-spaces=\"true\">who kicked things off in May 2023 from the city of Heze in Shandong province.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Nine individuals were sentenced to prison terms in China along with fines for involving in a telecommunication fraud scheme targeting Indian victims. The scam siphoned 517 million Indian rupees ($6.2 million) from 66,800 victims through fabricated investment platforms and\u2026 <a href=\"https:\/\/t.co\/9mtgJHKqKS\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/9mtgJHKqKS<\/a><\/p>\n<p>\u2014 Global Times (@globaltimesnews) <a href=\"https:\/\/twitter.com\/globaltimesnews\/status\/1911261742862106705?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">April 13, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Their scam centered around a bogus investment app called SENEE. The twist? The scammers posed as wealthy Indian women online, think fake profiles, photos of designer handbags, and smooth-talking texts promising <\/span><span data-preserver-spaces=\"true\">big<\/span><span data-preserver-spaces=\"true\"> monthly returns on small investments. Just \u20b91,000 could supposedly earn you an 8\u201315% return. Too good to be true? Yep, and it was.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Once people started investing <\/span><span data-preserver-spaces=\"true\">larger<\/span><span data-preserver-spaces=\"true\"> amounts, the app <\/span><span data-preserver-spaces=\"true\">locked them out or converted their deposits into<\/span><span data-preserver-spaces=\"true\"> \u201c<\/span><span data-preserver-spaces=\"true\">equity<\/span><span data-preserver-spaces=\"true\">\u201d <\/span><span data-preserver-spaces=\"true\">they <\/span><span data-preserver-spaces=\"true\">couldn\u2019t<\/span><span data-preserver-spaces=\"true\"> access<\/span><span data-preserver-spaces=\"true\">. In<\/span><span data-preserver-spaces=\"true\"> other <\/span><span data-preserver-spaces=\"true\">words,<\/span><span data-preserver-spaces=\"true\"> goodbye money.<\/span><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Money Laundering via Cryptocurrency<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">And it <\/span><span data-preserver-spaces=\"true\">didn\u2019t<\/span><span data-preserver-spaces=\"true\"> stop at just collecting funds. The group knew how to move dirty money.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Once <\/span><span data-preserver-spaces=\"true\">the victims were fleeced<\/span><span data-preserver-spaces=\"true\">, the scammers laundered the funds through third-party services, then converted the cash into Tether (USDT), a popular stablecoin in crypto circles. From there, it was either cashed out in yuan or U.S. dollars. The fraudsters allegedly kept a 15% cut per transaction, not exactly subtle.<\/span><\/p>\n<div class=\"chart crypto-chart-instance\" id=\"crypto_chart_67fe634688468\" data-coin-id=\"btc-bitcoin\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\">\n                <img id=\"crypto_chart_67fe634688468-chart__info-icon-img\">\n            <\/div>\n<div class=\"chart__info-name\" id=\"crypto_chart_67fe634688468-chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67fe634688468-chart__info-symbol\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67fe634688468-chart__info-price\">&#8211;<\/div>\n<div class=\"chart__info-value\" id=\"crypto_chart_67fe634688468-chart__info-marketcap\">&#8211;<\/div>\n<\/p><\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\" id=\"crypto_chart_67fe634688468-btn-24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\" id=\"crypto_chart_67fe634688468-btn-7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\" id=\"crypto_chart_67fe634688468-btn-30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\" id=\"crypto_chart_67fe634688468-btn-1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\" id=\"crypto_chart_67fe634688468-btn-all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\" id=\"crypto_chart_67fe634688468-btn-log\">Log<\/button>\n            <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"chart__container\">\n        <canvas class=\"chart__canvas\" id=\"crypto_chart_67fe634688468-cryptoChart\"><\/canvas>\n    <\/div>\n<\/div>\n<p><strong>DISCOVER: <\/strong><a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coin-icos\/\"><strong>Best Meme Coin ICOs to Invest in April 2025<\/strong> <\/a><\/p>\n<h2><strong><span data-preserver-spaces=\"true\">Legal Proceedings and Sentencing<\/span><\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">In court, the prosecution laid out just how organized the ring was. <\/span><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">wasn\u2019t<\/span><span data-preserver-spaces=\"true\"> a casual side hustle but a full-on criminal operation with job roles, task assignments, and profit splits. Everyone had a part to play.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The result? Prison sentences <\/span><span data-preserver-spaces=\"true\">range<\/span><span data-preserver-spaces=\"true\"> from 5 years to nearly 15, plus fines. <\/span><span data-preserver-spaces=\"true\">The presiding judge, Liu Xilei, <\/span><span data-preserver-spaces=\"true\">made it clear that China is<\/span><span data-preserver-spaces=\"true\">\u00a0not taking this lightly.<\/span><span data-preserver-spaces=\"true\"> He also encouraged anyone involved in similar fraud to turn themselves in before the law catches up.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This case <\/span><span data-preserver-spaces=\"true\">isn\u2019t<\/span><span data-preserver-spaces=\"true\"> just about a group of scammers. <\/span><span data-preserver-spaces=\"true\">It\u2019s<\/span><span data-preserver-spaces=\"true\"> a warning sign about how sophisticated international crypto fraud has become and how hard it is to stop when the victims and the perpetrators are in <\/span><span data-preserver-spaces=\"true\">completely<\/span><span data-preserver-spaces=\"true\"> different countries.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In India, scams like this one have prompted government crackdowns. Efforts like the Sanchar Saathi initiative have already disconnected millions of suspicious mobile numbers and <\/span><span data-preserver-spaces=\"true\">blacklisted<\/span><span data-preserver-spaces=\"true\"> dodgy devices. <\/span><span data-preserver-spaces=\"true\">It\u2019s<\/span><span data-preserver-spaces=\"true\"> a game of digital whack-a-mole, but <\/span><span data-preserver-spaces=\"true\">it\u2019s<\/span><span data-preserver-spaces=\"true\"> a start.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The fact that <\/span><span data-preserver-spaces=\"true\">this crew was tracked down<\/span><span data-preserver-spaces=\"true\"> and convicted shows progress. But the global nature of crypto scams makes enforcement <\/span><span data-preserver-spaces=\"true\">tough<\/span><span data-preserver-spaces=\"true\">. For now, the best defense is education \u2014 and knowing that if something online looks too good to be true, it probably is.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"editor-rtfLink\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        A Chinese fraud ring was sentenced for running a $6.2M crypto scam that targeted over 66,800 Indian citizens through a fake investment app called SENEE.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Scammers posed as wealthy Indian women online, offering 8\u201315% monthly returns to lure victims into depositing money.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Funds were laundered through third-party services and converted into Tether (USDT), then withdrawn as yuan or U.S. dollars.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The ringleader and eight others received prison sentences ranging from 5 to nearly 15 years, with additional fines imposed.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The case highlights the rise of international crypto scams and the growing need for cross-border enforcement and digital literacy.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/chinese-fraud-ring-jailed-after-scamming-66800-indians-in-6m-crypto-scheme\/\">Chinese Fraud Ring Jailed After Scamming 66,800 Indians in $6M Crypto Scheme<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Imagine thinking you\u2019ve found a promising investment app run by a friendly woman offering 15% returns, only to discover it was part of an elaborate scam run out of another country. That\u2019s exactly what happened to tens of thousands of people across India with this crypto investment scam. In a case that\u2019s as global as [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22176","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22176"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22176\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}