[Chinese Guizhou Police Uncover Virtual Currency Trading Scam, Fraudster Used 'Read-Only Wallet' to Impersonate USDT Transactions] BlockBeats News, March 20: Recently, police in Wanshan, Tongren, Guizhou Province, China, uncovered a virtual currency trading scam. The victim, Chen, was defrauded of 7,118 U-coins (equivalent to over 50,000 yuan) during an offline USDT transaction by the scammer, Tan, who used a 'read-only wallet' (a 'read-only wallet' address can only be used for receiving and viewing) and a cash display scheme. Investigations revealed that Tan first displayed cash to gain trust. Once Chen transferred the U-coins to the 'read-only wallet,' Tan immediately transferred the funds and then denied the transaction. The case is currently under further investigation. The police remind the public that virtual currency-related activities are considered illegal financial activities and carry extremely high risks. Offline cash displays may be part of a scam. Always verify the authenticity of wallet addresses before making transfers. (Guangming Online)