On February 25th, according to Guangzhou Daily, a Guangdong court recently concluded a case of virtual currency fraud. Defendant Xie XX issued a virtual currency named "AA Chain" by founding Company A, promising investors that the currency would be listed on the exchange and reap high returns. The case shows that in May 2018, Xie established Company A in Guangdong and served as the legal representative. He promoted the appreciation potential of "AA coins" through the Internet platform and promised the victim that he would be listed and traded on the exchange, with an expected return of not less than 5 million yuan. An investor therefore invested 990,000 yuan to buy more than 1.6 million AA coins, but in fact the virtual currency received by the victim had an empty stack of numbers, and these tokens were always locked and could not be traded. The court found that the defendant, Xie Moumou, had made up facts to defraud other people's property for the purpose of illegal possession, and the amount was particularly huge. He was finally sentenced to 11 years in prison for fraud and fined RMB 50,000 yuan. The judgment has come into effect.