[China's Supreme People's Procuratorate Discloses USDT Fraud Case Involving Over-the-Counter Trading; Prosecutors File Charges of Fraud] BlockBeats reported on October 31 that, according to a recent disclosure by China's Supreme People's Procuratorate, a man surnamed Wang from Xuzhou, Jiangsu Province, learned that USDT trading was illegal in China and, using this as a pretext, devised a scheme to defraud others of their USDT. Wang had previously purchased USDT from a victim surnamed Xiao twice in cash. He then gathered a group of people to conspire to purchase USDT again, agreeing to a transaction of 1.2 million yuan in cash. On the day of the transaction, after verifying the cash, Xiao transferred the equivalent amount in USDT to the address designated by Wang. Wang and his accomplices then claimed they hadn't received the USDT. While Xiao checked the transfer records, they threw a travel bag containing 1.2 million yuan in cash out of a second-floor window. An accomplice below caught the bag and fled in a car, while others tried to stop Xiao from giving chase. The prosecution's review revealed that the 1.2 million yuan in cash was always controlled by Wang and others and was only used as a tool in the fraud, not as a target of robbery. Therefore, the case, initially classified as robbery by the police, was changed to fraud, and a public prosecution was filed in court. The defense argued that it should be classified as contract fraud, while the prosecutor argued that virtual currency trading is an illegal financial activity explicitly prohibited by the state and does not fall under the scope of contract fraud. The trial has concluded, and the court will announce its verdict at a later date. [Original Link]