A woman in her sixties was sentenced to four years in prison for posing as a teenage girl and swindling over 200,000 yuan from a cryptocurrency investment scheme.

CoinFeed reported on June 10th that, according to the Beijing Evening News, the Haidian District Procuratorate in Beijing announced a fraud case in which a 60-year-old woman, Meng, impersonated a 20-year-old girl to swindle over 200,000 yuan from a young man online. She then invested the money in cryptocurrency leveraged trading, ultimately losing everything. She was sentenced to four years in prison. Meng fabricated the identity of her "adopted daughter, Xiao Hong," posing as a young woman to engage in an online romance with the young man. She repeatedly borrowed money under various pretexts, such as family illness and needing to study abroad for exams. The young man noticed his "girlfriend's" old-fashioned behavior and discovered that the photos she sent of her living abroad were actually taken in a Chinese karaoke bar, prompting him to report her to the police. After being apprehended, Meng confessed to the crime, admitting that she had invested all the 200,000 yuan in cryptocurrency leveraged trading, resulting in a margin call and complete loss due to a market crash. The court sentenced Meng to four years in prison for fraud, imposed a fine, and ordered her to reimburse the swindled money.