A Shanghai court sentenced a case of building a digital collection platform to deceive others into investing, causing the victim to lose a total of about 1.8 million yuan

Odaily Planet Daily News Shanghai Procuratorate WeChat published an article to warn against the trap behind "AI digital collections". It is reported that Wu and Wang set up a digital collection platform to attract investors. They falsely advertised that the "digital collections" drawn by AI have appreciation prospects and promised "half price" to protect the principal. They lured victims to buy the platform's first collections and then trade them in the "secondary market". When the victims were unable to trade the collections and asked for a refund, they cut off contact with the victims, causing a total loss of about 1.8 million yuan to the victims. In January 2025, the Jinshan District Procuratorate of Shanghai filed a public prosecution, and Wu and Wang were sentenced to corresponding penalties by the court for the crime of fundraising fraud. (Shanghai Procuratorate WeChat)