According to ChainCatcher news and the official account of the Jingde County People's Court, the Jingde Court recently concluded a case involving organized and leading pyramid selling activities related to virtual currency.
It is reported that Xu (handled in another case) is preparing to develop the 'Mobius' project, which involves issuing and promoting MBUS (Mobius) virtual currency, cards, etc. Several individuals required participants to purchase and hold MBUS coins, NFT cards, MSS coins under the guise of investing in virtual currency and derivative project transactions, actively developing downline personnel through a 'referral' method, and organizing hierarchies in a certain order. They used the number of developed personnel, the amount and quantity of virtual currency and cards purchased as a basis for compensation or rebates, defrauding participants of a total of over 964,300 USDT (1 USDT is approximately equal to 1 USD, equivalent to about 6.39 million RMB).
After the incident, it was identified that the wallet addresses held by MBUS coin holders recorded 29,280 entries, with a total recommended hierarchy of 48 levels. The individuals involved, Li, Xiang, Huang, and four others, were sentenced to fixed-term imprisonment ranging from two to three years, with probation and fines imposed.