Deep Tide TechFlow news, on December 14, according to the official account of Jingde County People's Court, the Jingde Court recently concluded a case involving the organization and leadership of pyramid selling activities related to virtual currency. It is reported that Xu (handled in a separate case) was preparing to develop the 'Mobius' project, which involves issuing and promoting MBUS (Mobius) virtual currency, cards, etc. Several individuals, under the guise of investing in virtual currency and derivative projects, required participants to purchase and hold MBUS coins, NFT cards, MSS coins, actively developing downline personnel through 'referring others' and organizing hierarchy in a certain order. They directly or indirectly used the number of developed personnel, the amount and quantity of virtual currency and cards purchased as the basis for compensation or rebates, defrauding participants of a total property worth over 964,300 USDT (1 USDT is approximately equal to 1 dollar, equivalent to about 6.39 million yuan).
After the incident, it was determined that the wallet addresses of MBUS coin holders recorded 29,280 entries, with a total recommendation hierarchy of 48 levels. The involved individuals, Li, Xiang, Huang, and four others were sentenced to fixed-term imprisonment ranging from two to three years, with a suspended sentence and fines imposed.