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Chengdu court discloses virtual currency fundraising fraud and money laundering case, with more than 29,000 participants losing a total of more than 1.7 billion yuan

Chengdu court released the top ten typical cases of 2024, among which was a disclosure of a fundraising fraud and money laundering case involving the "GUCS" virtual currency and the related software "Wa11et Pro" app. The defendants, including Wang Moumou, vigorously promoted the economic value and investment prospects of GUCS coin in Chengdu, Deyang, Meishan and other places, and developed downlines in the form of pulling people, causing more than 29,000 fundraising participants to lose a total of more than 1.7 billion yuan. Wang Moumou was sentenced to life imprisonment, deprived of political rights for life, and all personal property was confiscated.

In addition, the Chengdu court also disclosed a case of a Singaporean company suing a Sichuan real estate company for a "miner" purchase and sale contract dispute, ruling that the Sichuan real estate company should refund the Singaporean company's paid amount of 836,000 US dollars, shipping and insurance fees of 22,534 US dollars, and rejecting other litigation requests from the Singaporean company.

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