Mainland China quickly and effectively addresses crypto fraud incidents despite banning crypto transactions a few years ago.
Mainland China, one of the world’s most restrictive jurisdictions to cryptocurrencies like Bitcoin (BTC), is still vulnerable to crypto investment scams despite its crypto ban.
Law enforcement in the Chinese province of Shaanxi has cracked a crypto fraud scheme, arresting four suspects, local news agency Baidu reported on July 31.
The suspects reportedly defrauded the victim — who is referred to as Wang in the report — of 410,000 Chinese yuan ($56,800).
