Virtual assets worth 6 million yuan ($946,000) have been frozen by Chinese police and eight people have been arrested in connection with this crypto scam.
This is the latest step in Beijing's crackdown on cryptocurrencies.
As of last September, crypto trading and mining had been banned by China's top regulator in an effort to "root out illegal cryptocurrency activities".
Beware of these rug-pull scams!!
@tipu curate
😱
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