- The fake Senee platform promised 8-15%of monthly revenue for low-molecular encryption investment.
- The scammer used a chat app with Indian identity, lifestyle photos and translated messages.
- The sentence was between five and 15 years. All members were fined for a role in organized fraud.
In case of emphasizing the risk of borders related to digital assets, the Chinese District Court sentenced nine Chinese to be coordinated with a USDT -based fraud, which had more than 66,800 Indian victims out of about $ 6.6 million ($ 555 million).
The verdicts delivered from the People’s Economic Development Zone in Shandong have revealed their sophisticated operations that are deceived by the user to invest in a fake password platform called Senee using overseas servers, false identity and manipulated social media content.
This case emphasizes that the frequency of India, which is the target of such fraud, is increasing because there is a growing concern about tether abuse (USDT) in international financial fraud and a large population connected by digital.
The Chinese authorities are operating across the border, but have begun to strengthen the grip on encrypted frauds that use infrastructure in the country.
The scammers have been raised as an Indian investor.
The fraud operation began when MOUTIAN, a master mind identified in May 2023, founded a front office in Heze, China.
He recruited and led a con artist who worked in a clearly defined role to simulate a reliable and advantageous investment environment for users who were unacceptable.
The gang is an initial deposit of 1,000 initials, with a high -end investor and a target Indians using the chat app with the support of translation.
This communication has been adjusted to create a trust that is a rich Indian woman or fellow investor with fake back stories and financial success.
One of the scammers, Li MouWang, admitted to impersonate a wealthy Indian woman who promotes her success in smart investment using an online platform.
She and others seduced her in Senee App, a forgery trading platform that was convincingly supported by forged documents such as business registration and license. The app also posted a lifestyle photo to spill the location of India and increase reliability.
When a victim has a significant deposit, the platform will not be able to withdraw money by freezing accounts.
Funds washed through the exchange
After deceiving the investor, the con artists purchased a USDT using a third -party payment service and then switched to RMB or US dollar. According to the court document, the gang maintained 15%of the stolen amount as a committee.
This flow of illegal funds is especially widely accepted in major exchange and traces the task of tracking encryption transactions between borders in crimes related to stable coins such as liquid.
The group relied greatly on the anonymity provided by the decentralized password network and the international payment gateway to cover the movement of the funds.
However, in cooperation with overseas agencies, the gang was dismantled by the adjusted efforts to execute the Chinese law.
Sentence brother and public warning
The court was highly structured by this group, and each member played a specific role in the chain, from identity fraud and victims to technical support and money laundering.
All nine members were sentenced to five to 15 years in prison, and a fine for the role in the operation was imposed.
The judge observed that fraud was targeted at Indians, but similar cases were common in China.
In the official statement, the court urged the public not to trust the online investment system, which promises abnormally high profits, monopoly tips or cashback proposals.
The authorities pointed out that this prosecution is part of a wide range of crackdowns on communication and Internet -based fraud.
The court also announced an open appeal against frauds in order to voluntarily surrender in return for more generous sentence under the Chinese criminal law.