Shandong police in China cracked a case of using virtual currency to set up a casino and seized more than 10 million yuan in funds involved

BlockBeats news, on September 23, according to the Linyi Hedong official account, in early 2023, the Yihe New District Branch of the Linyi Public Security Bureau discovered an APP suspected of gambling in its work, and the capital flow was huge.

After investigation, the APP was developed by Zhao Mou at the instruction of the criminal suspect Shi Moumou. Shi Moumou used his own and his family's identities to open multiple fund pool accounts. Members used virtual currency to exchange chips in the APP and conducted online gambling by guessing the rise and fall of virtual currency exchange rates in different time periods. At the same time, Shi Moumou used high commissions as bait to recruit Cao Moumou, Wu Moumou and others, promoted the APP everywhere, actively developed agents at all levels, and recruited a large number of members to participate in gambling.

Since 2023, the public security organs of Yihe New District have successively arrested 13 suspects involved in the case, including Shi Moumou, and seized more than 10 million yuan of funds involved in the case. In May 2024, Shi Moumou and others were sentenced to fixed-term imprisonment by the People's Court in accordance with the law.