The new branch of the Public Security Bureau of Baishan City, Jilin Province successfully solved a telecom fraud case under the guise of virtual currency, arrested 21 criminal suspects led by Yang Moumou, and seized more than 50 million yuan in cash. After more than a month of investigation and tracking, the police organized more than 20 police forces to collect the network in Xiamen, Quanzhou, Luoyang, Shanghai, and Xi'an, and eliminated two telecommunications fraud dens in one fell swoop. It is reported that the case involves an APP called "bitwell", behind which is a shell of a formal company, and actually uses the virtual currency contract trading platform as a medium to carry out fraud. The platform has not traded with the international market. The data seen in the APP are all controlled by criminal suspects in the background. If you want to withdraw cash for profit, you will delay the withdrawal time or set a withdrawal threshold for various reasons. It will not easily let players get the money. Even if the withdrawal is successful, the platform still needs A so-called handling fee is charged to ensure stable profits without losses.