Deceived Crypto Investors Launched Their Own Scam to Recoup Losses

Cointelegraph

Published Aug 03, 2020 04:56PM ET

Updated Aug 04, 2020 07:00PM ET

Chinese police have reportedly arrested a group of scammers who launched a faux crypto scheme to recoup their losses after being defrauded by a number of different crypto-related cons themselves.

According to an article from the Public Information Network Security Supervision Bureau posted on WeChat earlier today, an investor named Yang created a fake investment scheme after losing around 100,000 yuan (over $14,000) to a crypto MLM project.

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