China’s Ministry of Public Security recently announced it cracked down a transnational internet pyramid scheme involving transactions of digital currencies such as bitcoin. It is the first known scheme of its kind and involved over 40 billion yuan in digital currencies, state media reported.
Authorities have detained 27 key suspects and a further 82 involved in the case.
In May 2018, the suspects developed a platform, Plus Token, and relevant applications, claiming they could provide value-added services and high investment returns.
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