[Chinese Shandong Court Handles a Case of Entrusted Investment in Virtual Currency Losses, Rules Plaintiff Bears Own Losses] BlockBeats News, March 18: The Zhangqiu District Court in Jinan City, Shandong Province, recently disclosed a typical case. Liu entrusted his friend Zhang to invest in 'AlphaCoin,' with the platform showing daily returns of several hundred yuan. After the investment, the platform became inaccessible, and Zhang informed Liu that the platform's operator had been investigated for alleged criminal activities. Liu filed a lawsuit demanding Zhang return the investment funds. After the trial, the court held that: investing in virtual currency disrupts financial order and endangers financial security, and therefore, the entrusted contract in this case is deemed invalid. Zhang did not profit from the entrusted actions, and the investment losses were a result of engaging in illegal financial activities, which Liu must bear on his own. The judge reminded: The 2017 joint announcement by seven departments and the 2021 notice by ten departments both explicitly state that activities related to virtual currencies are illegal financial activities, and investment losses are not protected by law. Even if operations are carried out through others, as long as the essence involves participation in virtual currency transactions, it is equally not protected by law. (The Paper)