Shandong Liaocheng police cracked the city's first virtual currency pyramid scheme case, recovering illegal gains of over 10 million yuan

2023-10-08 10:36:18

Collection

ChainCatcher news, according to the Liaocheng Public Security WeChat account, the Public Security Bureau of Shenxian County, Liaocheng City, Shandong Province, has successfully cracked the city's first case of pyramid schemes involving virtual currency, "12·04". Six leaders and key members of the pyramid scheme were arrested, and over 10 million yuan in illegal gains was recovered.

In December 2022, police from the Shenxian Public Security Bureau discovered virtual currency pyramid scheme activities on the Binance Smart Chain during an online patrol. The project used the "token pocket" wallet and smart contracts to issue decentralized cryptocurrencies DCS and CAR, enticing participants with high returns to inflate the prices of DCS and CAR, and recruit new members, suspected of being involved in pyramid scheme activities. The special task force had previously set up a forward command center in Qingdao and received assistance from public security agencies in Tai'an, Weifang, Xi'an, Fuzhou, and other locations.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.