Wu said that Zhejiang Taizhou cyber police reported a scam case using the guise of "Metaverse" and "virtual currency".

The criminal gang promoted face recognition payment devices, first attracting users through a points system, then诱导 investors to buy their own issued "air coins", and continued to extract money through lock-up, price manipulation, and "currency exchange" methods, ultimately deceiving over 130 investors out of approximately 35 million yuan.
The court found that the defendant committed fraud with the purpose of illegal possession, with a particularly large amount involved, and sentenced them to 10 years in prison and a fine of 200,000 yuan.