The Binance Network gang has been sued for fraud, with a cumulative litigation amount exceeding 10 million yuan

The Pudong New Area People's Court will hold a hearing on January 13, 2026 (UTC+8) to hear the infringement case of the Biying.com gang, with a litigation amount of 1.04 million yuan and a cumulative litigation amount exceeding 10 million yuan. The members of the gang, including Gu Ningning, Chen Gang, Mei Wenxiang, and Yan Jun, were accused of absconding after collecting 3 million yuan in advertising scheme fees for developing the Web3 project. At present, the parties involved are suing four individuals for joint compensation of 1.04 million yuan and filing a lawsuit with the Shanghai Railway Transport Court against Gu Ningning for fraudulently obtaining a 3 million yuan advertising plan. According to the information, the gang opened the ETCWIN Coin Yingwang Exchange in 2017, raised millions of yuan through ICO, and assisted Xu Zijing in issuing super cash HCASH to raise hundreds of millions of yuan. Both of the latter two projects were not cleared according to national administrative regulations. After the collapse of HCASH, the gang smashed the market and engaged in black PR activities.