PANews reported on May 8 that Loudi Intermediate People's Court released a typical case of telecommunications network fraud and related crimes, which revealed that criminals set up a fraud studio to trick victims into buying virtual currency on the exchange, and then recharged the virtual currency to the Hconex platform to defraud customers of their money. The fraud studio manipulated and modified the profit and loss of virtual digital currency through the backend system, causing the victim's recharge amount to lose all the money and defrauding customers of their money. Since its establishment, it has defrauded the victims of a total of more than 1 million yuan in property. The court believes that all the people involved in the case have committed the crime of fraud and have been sentenced to fixed-term imprisonment ranging from seven years and six months to eleven years and six months, and fined, and the illegal gains will be recovered according to law.