PANews reported on October 25 that according to Justice.com, in order to raise funds, Zhang, who was addicted to speculating in virtual currency, set his sights on his colleagues at work and fabricated excuses to defraud more than 1.97 million yuan from 16 colleagues. Recently, the Changzhou Economic Development Zone Procuratorate of Jiangsu Province filed a public prosecution, and the court sentenced the defendant Zhang to 11 years in prison for fraud and fined him 300,000 yuan.

During the 2022 World Cup, Zhang was betting on a certain platform when he came into contact with a virtual currency called KK coin. In addition to being used to top up betting, KK coin can also be used to earn the difference by buying low and selling high. After review and determination, from October 2023 to January this year, Zhang fabricated various reasons and defrauded 16 colleagues of a total of more than 1.97 million yuan in the name of borrowing. The money was used for the sale of virtual currency on the online gambling platform. Before the incident, Zhang only returned more than 37,000 yuan in cash or in kind. On July 7 this year, the court filed a public prosecution against Zhang for suspected fraud. Recently, the court made the above judgment after trial.