China Court Network: A virtual currency platform ran away, causing investors to fail to recover millions of dollars, and the court ruled that the loss should be borne by itself
According to China Court Network news, Hubei Province, Wuhan East Lake New Technology Development Zone People's Court East Lake People's Court recently concluded a virtual currency investment trust contract dispute case, because the virtual currency trading platform was frozen, resulting in investors' money could not be recovered, the court final judgment rejected the plaintiff's claim, the investor to bear the loss. It is reported that the plaintiff Liu learned that his colleague Wang had a relationship to invest overseas and promised to guarantee the principal and interest to Wang and his designated third-party account transfer payment of a total of more than 1.84 million yuan to invest in "TEDA USDT", during which he only received a refund of more than 56,000 yuan from Wang. After that, he found that the website for purchasing virtual currency could not be opened, and tried many times to no avail. He could not accept the huge losses caused by investing in virtual currency, so he sued the court for the trust contract dispute.
The court held that according to the "Notice on Further Preventing and Handling the Risk of Hype in Virtual Currency Transactions", there are legal risks involved in participating in virtual currency investment and transactions. Any legal person, unincorporated organization or natural person who invests in virtual currency and related derivatives and violates public order and good customs shall be invalid for the relevant civil legal acts, and the resulting losses shall be borne by them.