The Shanghai Procuratorate has announced a significant virtual currency fraud case involving over 35 million yuan. During a press conference held in Hongqiao Fund Town, the Minhang District Procuratorate highlighted efforts to combat economic crimes in emerging industries, including virtual currencies and digital collectibles. The investigation revealed that certain virtual currencies, labeled as "dummy coins," were used to deceive investors with false promises of appreciation. In collaboration with various departments, the procuratorate has taken action against illegal fundraising and credit card fraud, aiming to protect the financial security of sci-tech innovation enterprises. This initiative is part of a broader effort to enhance intellectual property protection and provide legal support to the sci-tech innovation ecosystem in Shanghai.