Golden Finance reported that the Supreme People's Court and the State Administration for Market Regulation jointly issued 5 typical cases of punishing online pyramid schemes in accordance with the law. Some of them promised high returns under the guise of investing in "virtual currency". The defendant Chen and others used blockchain as a gimmick to plan to set up a "certain Token" network platform. According to statistics, the platform has more than 2.6 million registered member accounts and 3,293 levels. A total of more than 9 million virtual currencies such as Bitcoin, Tether, and EOS were collected from members. The people's courts imposed corresponding penalties based on the status and role of the organizers and leaders of cross-border online pyramid schemes in the entire criminal chain, and confiscated the virtual currencies such as Bitcoin involved in the case in accordance with the law. A relevant person in charge of the Supreme Court said that in the next step, the people's courts will work with market supervision and management departments and other units to severely punish illegal and criminal activities of online pyramid schemes in accordance with the law.