Hangzhou released news that a fraud gang is targeting elementary school students who are gamers, luring them into transferring money and then laundering the money through Virtual Money.

According to Mars Finance, recently there have been elementary school students who encountered scams while playing a game called “Egg Party.” The criminal gang impersonated “police” and falsely claimed that the game account was being used by criminals, luring victims to “cooperate with the investigation” and transfer funds, with some amounts reaching tens of thousands. The People's Prosecutor's Office of Fuyang District, Hangzhou has charged that the investigation found the scam gang quickly converted the obtained funds into Virtual Money, and then used on-chain transfers to achieve Money Laundering. Prosecutors remind that anyone claiming to be law enforcement and asking for transfers to so-called “safe accounts” is a scam, and parents should strengthen anti-fraud education for minors.