Risks and Individual Responsibilities in Virtual Currency Investment
Publication Time:2024-08-27 10:42:09
Recently, the Donghu People's Tribunal of Donghu New Technology Development Zone People's Court of Wuhan City, Hubei Province, concluded a case involving disputes over entrusted contracts related to virtual currency investment. In this case, plaintiff Liu Mou suffered losses totaling over 1.84 million yuan after investing in a certain virtual currency platform called 'Tether USDT' and subsequently having the platform frozen, resulting in unrecoverable funds. During this period, Liu Mou only received about 56,000 yuan in returns from defendant Wang Mou. After numerous unsuccessful attempts to recover the losses, Liu Mou could not accept the significant financial loss incurred from virtual currency investments and sued Wang Mou and a third party designated by Wang Mou on the grounds of disputes over entrusted contracts, seeking compensation. However, the court ultimately ruled against the plaintiff’s claims, holding that the investor must bear the loss themselves. This case serves as a reminder to investors that participating in virtual currency investments carries legal risks; any behavior that violates public order and good morals may render relevant civil legal acts invalid, and any losses arising therefrom should be borne by the investor.
Virtual Currency
investment risk
legal risks
individual responsibility
disputes over entrusted contracts