Philippine police have arrested 277 Chinese people they believe contributed to scams using cryptocurrency and scamming 1,000 Chinese nationals, according to reports by the AP. Business Enquirer.

According to the same source, the fraud appeared from a company called “Golden Millennial Quickpay Inc. Ltd” which is a crypto company with a license to operate in Pasig City, Cagayan Economic Province.

The investigation revealed that the company’s offices were located in areas where it was not authorized to work, which means a conflict with the conditions.

On September 11, the Philippine authorities, immigration and anti-corruption units in the Philippines began their actions and arrested four employees of the Golden Millennial Company.

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According to Immigration Commissioner Jaime Morente, officers instead found three offices containing Chinese workers engaged in illegal online operations” instead of the company’s real business.

Apparently, the company’s 277 Chinese workers are in the Philippines under CEZA visas that force them to stay in Pasig.

But apparently, the Chinese authorities revoked their passports, which also made their work illegal in the Philippines, as well as the accusations against them of defrauding Chinese citizens (1,000 citizens) using cryptocurrencies in fraud.

In a similar case, the Chinese police arrested the city of Chinese Zhengzhou More than 9,000 technicians working in a computer network maintenance company are installing malicious mining and encryption software for their users.

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