PANews|Jun 11, 2026 01:55
[Caixin: A Domestic Female Crypto Tycoon Scammed Out of 60 Million RMB in the U.S.]
According to Caixin, a domestic female tycoon was scammed out of over $9.4 million (approximately 60 million RMB) in the United States. Her mining pool was reportedly responsible for 9% of the global Bitcoin hash rate at its peak. She is identified as Ms. Lü, the CEO of a computing power technology company based in a southwestern province of China.
It is reported that the female tycoon fell victim to a scheme orchestrated by the Zubair brothers, who claimed to be members of the "Middle Eastern royal family." The elder brother posed as a "Middle Eastern royal prince," claiming his uncle was the Saudi Minister of Defense and that he controlled Middle Eastern family funds, international business connections, and U.S. local government resources. The younger brother, inspired by the TV series *Billions*, imitated the role of a hedge fund manager. The two brothers even successfully "hunted" Michael Smedley, the chief of staff to the mayor of East Cleveland, and lured the female tycoon into signing a cryptocurrency mining farm development contract.
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