According to the "Procuratorial Daily," the methods used to assist information network crimes are constantly evolving, and telecommunications fraud cases involving virtual currencies are occurring frequently. In June of this year, suspect Yang, using a messaging app, logged into the "Huiwang" platform, a black market for illicit transactions, and joined a group dedicated to buying and selling virtual currency "U Coins." Subsequently, Yang, Jin, and He jointly invested 220,000 yuan, with Yang purchasing virtual currency from a "U Merchant" within the group at a price three cents lower than the platform's trading price. This virtual currency was stored in the "U Merchant's" account to be used for tasks. These tasks involved assisting the "U Merchant" in selling "U Coins" and collecting the proceeds. On June 8th, Yang, instructed by the "U Merchant," colluded with Jin and He to collect 220,000 yuan in cash from victim Gao by selling "U Coins." They then deposited the 220,000 yuan in cash at a location designated by the "U Merchant," who then transferred the payment in the form of "U Coins" to Yang's "U Coin" account, resulting in a profit of 3,800 yuan for the trio. The report states that in China, foreign exchange transactions must be conducted at designated locations by the state. Otherwise, it constitutes illegal foreign exchange trading, and in serious cases, individuals could face criminal liability. Therefore, prosecutors urge investors to exercise caution and refrain from easily believing others, withdrawing large sums of cash from banks to purchase virtual currency in pursuit of small profits. They should maintain rationality, enhance risk awareness and identification capabilities, remain vigilant against virtual currency scams, and stay away from illegal fund-raising activities.