Zhejiang police have successfully recovered 3 million RMB in a cryptocurrency fraud case, dismantling a telecom fraud ring on December 19. The Yuyao Public Security Bureau uncovered the scheme, which involved fake virtual currency platforms designed to deceive investors. Victims were misled into believing that large transactions required offline handling, with funds being funneled to fraudulent exchangers. Two suspects are currently under criminal compulsory measures as the investigation continues.