China busts huge crypto scam, seizes Ferrari, villas and $15 million


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Bitcoin Ethereum News Chinese police have confiscated 100 million yuan (roughly $15 million) as well as luxury cars and villas, worth around $2.15 million combined, from a group of alleged crypto scammers. The arrestees are suspected of selling fake Huobi tokens to over 1,300 of their victims, local news outlet Toutiao reported today . According to the article, China’s Ministry of Public Security announced the arrest of 10 individuals who allegedly attracted potential investors via dozens of Telegram channels, such as “Huobi Global Arbitrage HT Chinese Community.” Luxury rides Ferrari and McLaren were among the seized property. Image: Toutiao In...