Chinese police successfully extradited a major economic crime suspect from Thailand, who used virtual digital currency to carry out online pyramid schemes

ChainCatcher message: According to reports from CCTV News, the major economic crime suspect Zhang XX, who is suspected of organizing and leading pyramid scheme activities, has been successfully extradited back to the country from Thailand.

It is understood that since 2012, the MBI group, led by the suspect Zhang XX, has been engaging in illegal pyramid scheme activities by issuing virtual digital currencies. They required participants to pay fees ranging from 700 to 245,000 RMB to obtain platform membership, using high returns as bait and counting the number of members and the amount of funds invested as a basis for compensation or rebates. The group has developed over ten million members, with involved funds exceeding 100 billion RMB.