The first virtual coin case in Fujian has been solved, illegally trapping 110,000 USDT and profiting 340,000 yuan.

Recently, the first case involving Virtual Money in Fujian Province has been successfully solved.

According to reports, in September 2019, after more than 4 months of investigation, the Xiuyu Branch of the Putian Public Security Bureau successfully arrested Xu Mouhang, who was suspected of illegally obtaining data from computer information systems. Subsequently, Xu Mouhang was criminally detained and was prosecuted in February of this year.

Another suspect in the case, Xu Moubin, fled after the incident. It wasn't until March 31 of this year, under legal pressure, that Xu Moubin voluntarily surrendered to the Xiuyu police. Thus, this case, the first in Fujian Province involving the illegal acquisition of computer information system data related to Virtual Money, has been fully solved.

According to the police involved in the case, in March last year, a 27-year-old man from Putian, Xu Mouhang (high school educated and unemployed), obtained a download link for a Virtual Money trading platform through social media. He then registered an account on the platform using his identity information. During the trading process, Xu Mouhang discovered and exploited a management loophole in the system, using illegal means to obtain a large amount of USDT (a type of Virtual Money).

In order to obtain more illegal profits, Xu Mouhang, on the one hand, registered more accounts by purchasing other people's identity information online to carry out illegal extraction, and on the other hand, informed Xu Moubin of this method of extracting USDT. Driven by profit, the two reached an agreement to use Xu Moubin's identity to register accounts and continue to illegally extract USDT on the platform, sharing the profits equally.

In the end, Xu Mouhang repeatedly entered the platform and illegally obtained more than 110,000 USDT. He used these USDT for illegal trading, profiting over 260,000 yuan, while Xu Moubin illegally profited over 80,000 yuan.

The successful resolution of this case is not only an important milestone in Fujian Province's crackdown on crimes related to Virtual Money, but it also provides valuable experience for the investigation of similar cases in the future. At the same time, it warns us to remain vigilant when participating in Virtual Money transactions, comply with laws and regulations, and avoid crossing legal boundaries.