Filecoin

Bitcoin

News of a new operation came from China, known for its bans on Bitcoin and cryptocurrencies.
People who deceived investors with the promise of investing in Filecoin (FIL) in China were punished for illegally embezzling the money they collected.
Authorities in China's Jiangsu Province have busted an illegal fundraising ring involving more than 40 million yuan (about $5.5 million) in cryptocurrency, local Chinese news outlet Yangtse Evening Post reported.
The suspects raised 40 million yuan (about $5.5 million) worth of cryptocurrencies by deceiving investors with the promise of doubling their returns on their Filecoin (FIL) investments.
The gang, which attracted more than 10,000 members from many provinces including Jiangsu, Guizhou and Hunan in less than a year, was caught as a result of the operation.
The eight people caught were sentenced to three years in prison with three to five years of probation for embezzlement.
The defendants were also fined between 210,000 and 250,000 yuan.
China, which imposes strict sanctions against BTC and cryptocurrencies, has already banned all cryptocurrency transactions, and miners had to leave the country years ago.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/filecoin-fil-operation-in-china/" rel="noopener noreferrer nofollow">Filecoin (FIL) Operation in China!</a>

Filecoin (FIL) Operation in China!

Bitcoin Sistemi EN

Other articles published on Jul 23, 2024

Bitcoin Price Prediction: $60K Drop Possible Due to Mt. Gox Transfer – What’s Next for Altcoins?

Hamilton Lane Launches Private Credit Fund on Solana Blockchain

Magnify Cash Launches DeFi Protocol and Announces $MAG Token Fair Launch

Marathon Digital Slapped with $139 Million Fine for Breach of Non-Disclosure Agreement

Top Altcoins For 2X -5X Surge Post Ethereum ETF Launch Today!

Grayscale’s Massive $1B ETH Move Stirs Speculation Amid Spot ETF Launch

Join our free newsletter for daily crypto updates!