On February 25, according to Guangzhou Daily, the Guangdong court recently concluded a virtual currency fraud case. The defendant Xie Moumou promised investors that the currency will be listed on the exchange and receive high returns by establishing Company A to issue a virtual currency called "AA Chain". The case shows that in May 2018, Xie Moumou established Company A in Guangdong and served as the legal representative. It promotes the appreciation potential of "AA coins" through the Internet platform and promises the victim that it will be listed on the exchange, with an expected return of no less than 5 million yuan. An investor invested 990,000 yuan to buy more than 1.6 million AA coins, but in fact, the virtual currency received by the victim had a stack of numbers, and these tokens were always locked and could not be traded. The court found that the defendant Jie Moumou fabricated facts to defraud others of property for the purpose of illegal possession, and the amount was particularly huge. He was eventually sentenced to 11 years in prison and a fine of RMB 50,000 for fraud. The judgment has taken effect.