Fujian cracks the first case of Virtual Money Arbitrage, illegally profiting over 340,000 yuan.

Recently, Fujian Province has cracked a highly关注 case related to Virtual Money, marking a significant breakthrough as the first such case in the province.

After several months of investigation and evidence collection, the Cybersecurity Team of the Xiuyu Branch of Putian Public Security Bureau successfully arrested the suspect Xu Mouhang, who was suspected of illegally acquiring data from computer information systems. Subsequently, Xu Mouhang was criminally detained according to the law and was prosecuted by the procuratorial authority in February of this year.

Another suspect in the case, Xu Mou Bin, chose to flee after the incident. However, at the end of March this year, under the deterrence of the law, Xu Mou Bin ultimately decided to voluntarily surrender to the Xiuyu police. With this, the highly publicized case was declared fully solved.

According to the investigation, in March last year, a 27-year-old man from Putian, Xu Mouhang, obtained a download link for a Virtual Money trading platform through social media. He then registered an account on the platform using his personal information. During the trading process, Xu Mouhang discovered and exploited a management loophole in the system, illegally extracting a large amount of USDT (a common Virtual Money) from the platform.

In order to further expand illegal profits, Xu Mouhang not only purchased others' identity information online to register more accounts to continue siphoning off USDT, but also informed Xu Moubin of this method. Tempted by huge profits, the two reached an agreement to use Xu Moubin's identity to register new accounts, continue illegally siphoning off USDT on the platform, and share the profits equally.

According to statistics, Xu Mouhang entered the platform multiple times and illegally obtained more than 110,000 USDT. Subsequently, he sold these USDT through illegal means, profiting more than 260,000 yuan. At the same time, Xu Moubin also illegally profited more than 80,000 yuan.

The successful resolution of this case not only demonstrates the determination of law enforcement agencies to combat crimes related to Virtual Money but also provides valuable experience for handling similar cases in the future. At the same time, it reminds the general public to remain vigilant when participating in Virtual Money transactions, to abide by the law, and to avoid crossing legal red lines.