Security· ★★· bearish·

China police arrest two over $4,200 crypto investment scam

  • —Victim lost about 30,000 yuan (roughly $4,200)
  • —First suspect detained on Aug 19, 2026; second on Sept 17
  • —Scheme involved social-media contact, USDT purchase and swap into a new token
  • —Token's value collapsed to near zero after organizers sold their holdings
Why it matters: Another case of a pump-and-dump token scheme run through private messages, underscoring warnings from Chinese authorities about crypto investment fraud.
#USDT
Source: TokenPost
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