Shanghai Pudong Procuratorate discloses black industry cases involving virtual currency settlements, with suspects illegally profiting over 1 million yuan

ChainCatcher News, the People’s Procuratorate of Pudong New Area, Shanghai, disclosed a black industry chain case involving illegal querying and selling of citizens’ location information. The involved personnel settled transactions by exchanging virtual currency and profited illegally. Judicial appraisal shows that over 1,000 pieces of illegally queried location information were involved, with total illegal profits of approximately 1.17 million yuan. Currently, the related personnel have been sentenced to fixed-term imprisonment ranging from three years and six months to one year, with fines ranging from 500,000 yuan to 40,000 yuan.