"Crack down on virtual currency pyramid schemes!!! Jingde Court concludes 6.39 million cases, rejects illegal profiteering"

Recently, Jingde Court concluded a case involving the organization and leadership of pyramid schemes involving virtual currency, which has attracted widespread attention. The core figure of the case, Xu (handled in another case), is suspected of developing and promoting the "Mobius" project, intending to induce participants to buy and hold these virtual assets in the name of investing in virtual currency and derivative transactions by issuing virtual currency MBUS, NFT cards, and MSS coins.

In a "pulling people" manner, the people involved in the case defrauded investors' funds by developing downlines. Upon investigation, the total amount of money defrauded by participants exceeded 964,300 USDT (approximately RMB 6.39 million). In this scam, the wallet address records of MBUS coin holders were as high as 29,280, and the levels of the recommendation chain were as high as 48 layers, showing its huge scale of pyramid schemes.

After the court hearing, seven people involved in the case, including Li, Xiang, and Huang, were sentenced to fixed-term imprisonment ranging from two to three years, some of whom were given suspended sentences and fined. This case once again reminds us that the investment risks of virtual currencies and related derivatives cannot be ignored, especially when they are linked to pyramid schemes. Participants not only face huge financial losses, but may also violate the law.

In the crypto market, investors should be vigilant to avoid falling into similar scams. If you also want to keep abreast of the latest developments in the currency circle, follow Mr. Qiu, let's curb risks, seize opportunities, invest steadily, and make money without going astray!

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