The official account of the Jiangsu High Court released the "Typical Case of Foreign-related Commercial Trials in Jiangsu Courts in 2023", which disclosed that Tian Moumou, Pan Moumou and the outsider signed the "Cooperation Agreement" and agreed to jointly operate the "MFA Blockchain Project". Pan Moumou transferred 15.74 million yuan to Tian Moumou and the outsider one after another, which was used to purchase the MFA virtual currency stipulated in the above agreement; Tian Moumou transferred 10.60 million yuan to Pan Moumou one after another. Tian Moumou claimed that MEXC (Singapore trading platform) offline MFA/USDT spot trading in September 2020. The virtual account involved in the case was locked and could not be traded, and the investment had been completely lost. Pan Moumou filed a lawsuit and asked Tian Moumou to return the remaining money and pay interest. The Yancheng Intermediate People's Court held that the virtual currency transaction was invalid, so it ruled to reject Pan Moumou's lawsuit. Pan Moumou refused to accept the judgment and appealed. The Jiangsu Higher People's Court held that the provision of services by overseas virtual currency exchanges to residents in our country through the Internet is also an illegal financial activity, and the relevant civil legal acts are invalid, and the resulting losses shall be borne by them. The judgment rejected the appeal and upheld the original judgment.