Shandong, China has cracked a virtual currency theft case, with local police using on-chain fund tracing to pinpoint suspects.

Public security authorities in Bincheng, Shandong Province, China recently received a report from local resident Xie, who stated that 1,300 USDC stablecoins and NFT digital collectibles worth tens of thousands of yuan had vanished from his digital wallet. No obvious transfer alerts or phishing link traces were detected on the wallet. Police launched on-chain fund tracing by following the transfer records of the involved virtual currency, and actively collaborated with enterprises to analyze the

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