Guizhou Qiannan Cyber Police cracked a network pyramid scheme involving "virtual currency," arresting 15 criminal suspects

According to market news, Guizhou Qiannan Cybersecurity and Economic Investigation have collaborated to crack a "virtual currency" online pyramid scheme, successfully arresting 15 criminal suspects across multiple locations.

Upon investigation, it was found that this pyramid scheme organization promoted the slogan "Everything valuable in the world can be tokenized," establishing a virtual currency platform without real-name transactions. They set up various levels, where members participated in the pyramid scheme by recharging and staking virtual currency, profiting through direct push rewards by developing downlines. It is a network pyramid scheme organization with more than three levels and thousands of participants.

Criminal suspects Jia Moufu, Liu Mou, Duan Mouyao, and others set up a certain virtual currency online, using the lure of high returns from purchasing virtual currency to intentionally inflate the price of the virtual currency. They classified "identity levels" based on the amount purchased by members, with increasing returns as levels rose, encouraging "old members" to continue developing "new members" and attracting more people to participate in the pyramid scheme, achieving layered returns.

The platform took advantage of most participants' lack of understanding of virtual currency, regularly conducting courses to promote phrases like "high returns, low risk," and assisted members in converting RMB into virtual currency through recharge services. Currently, all related suspects have been legally prosecuted.