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Project Overview
Branch is building next-generation captivating social games in web3. The gameplay is based on islands that users can own as NFTs, each with a different composition of virtual resources. These resources can be crafted into usable items or structures within the game. The "play-to-earn" element comes from users paying each other to harvest the materials for them, or reselling the items as NFTs on secondary marketplaces.
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Hubei cracks first cryptocurrency theft case, involving over 100 million yuan in funds
: Guo Tingyu, a cyber police officer from the Qingshan Branch of the Wuhan Public Security Bureau, participated in the investigation of Hubei's first cryptocurrency theft case. By tracking fund flows and analyzing fake wallet codes, he identified and dismantled a theft gang involving over 100 million yuan in funds. All five suspects have been apprehended.The report states that the gang induced users to download fake cryptocurrency wallet apps to commit theft, with cumulative downloads exceeding 10,000 times. Guo Tingyu also participated in solving multiple cryptocurrency-related crime cases. (Hubei Daily)
19-Year-Old Female College Student from Guangdong Province Suspected of Being Trafficked to Myanmar Telecom Fraud Compound After Traveling to Thailand; Family Demanded $30,000 in USDT Ransom
According to China News Weekly, a 19-year-old female college student from Guangdong Province was recently invited to attend the Songkran water festival in Thailand. Upon arrival, she was reportedly detained and allegedly trafficked to a telecom fraud compound near the Thailand-Myanmar border in the Three Pagodas Pass area. Her family stated that the perpetrators claimed to have purchased her for 29,000 US dollars and subsequently demanded a ransom of $30,000—approximately RMB 200,000. After the family paid the ransom, the perpetrators delayed her release, citing reasons such as “the compound allows entry but no exit,” and demanded that media coverage of the case be retracted. The Baiyun Branch of the Guangzhou Municipal Public Security Bureau launched an investigation into the case on April 15, and Guangdong provincial education authorities have also become involved.
The People’s Bank of China Shaoguan Branch issued a risk alert on virtual currencies and released four typical cases.
The People’s Bank of China Shaoguan Branch, in collaboration with the General Office of the Shaoguan Municipal People’s Government, issued a risk alert on virtual currencies ahead of the “4·15” National Security Education Day for All Citizens. It also disclosed four typical cases: money laundering through “high-paying U.S. dollar-pegged stablecoin (USDT) part-time jobs,” illegal fundraising under the guise of “capital-guaranteed, high-yield cryptocurrency trading,” pyramid scheme fraud involving the “RWA Digital Culture & Tourism Fund,” and offline “currency swapping” activities constituting de facto foreign exchange transactions. Regulators clarified that virtual currency exchange, trading, and RWA tokenization activities are all illegal financial activities. Projects promising “high returns, low risk, and guaranteed profits” are mostly scams. The public should abandon fantasies of getting rich overnight, steer clear of virtual currency-related investments, opt for legitimate financial channels, and promptly report any suspicious activity to the police to minimize losses.