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[Beijing High Court Sentences Main Perpetrator of Virtual Currency Fraud Case to 12 Years in Prison] The Beijing High People's Court released five typical cases of telecom and online fraud, including a cross-border virtual currency investment fraud case. In this case, the defendant used overseas chat software in Beijing's Chaoyang District to lure victims into purchasing virtual currencies and investing them on designated platforms, subsequently transferring the fraudulent proceeds through virtual currencies. Upon investigation, the total amount defrauded by the group was approximately $900,000 (equivalent to over 5 million RMB). The court sentenced Liu Moufang to 12 years in prison for fraud and imposed a fine.