According to Yuhua District prosecutors, the convicted group used false online identities to defraud foreign victims via counterfeit crypto platforms, causing losses of around $34,000.
Changsha’s Yuhua District Prosecutor detailed a case in which eleven defendants were convicted for a crypto-based romance scam targeting foreign nationals. In March 2024, the group posed as wealthy financial women on overseas platforms to lure targets into investing through fake cryptocurrency websites. The scam extracted approximately $34,000 from victims by simulating platform activity and fabricating profitable returns. The Prosecutor’s office disclosed the losses and confirmed evidence from online interactions, platform records, and transaction traces enabled the convictions.