A "rich second generation" in Jiangsu invested in Dogecoin two years ago and was defrauded. He then gambled on football and owed debts. He rented a luxury car and pledged a loan for a contract fraud and was sentenced to three years in prison.

In August 2022, a "rich second generation" from Jiangsu, Zhuang, was tempted by high returns to invest in "Dogecoin". In September of that year, the price of "Dogecoin" plummeted. After a month of heavy investment, Zhuang found that the platform for purchasing virtual currency could not be operated, the funds in the platform could not be withdrawn, and later the webpage could not be opened. Zhuang was deceived by investing in virtual currency. He wanted to turn his life around by gambling, but ended up owing a debt of one million yuan. Faced with debt collection, he rented 6 luxury cars for pledge loans and defrauded the victim Gu of more than 1.16 million yuan. In April 2024, the Taicang City Procuratorate filed a public prosecution against Zhuang for suspected contract fraud in accordance with the law. Recently, the court sentenced Zhuang to three years in prison and a fine of 50,000 yuan in accordance with the law, and ordered Zhuang to return the stolen money of 541,000 yuan to the victim Gu. Zhuang accepted the sentence and did not appeal. (Procuratorate Daily)