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The Jingde court concluded a case of pyramid scheme activities involving virtual currency, involving an amount of about 6.39 million yuan

According to the official account of the Jingde County People's Court, the Jingde Court recently concluded a case involving the organization and leadership of pyramid schemes involving virtual currencies. It is reported that Xu (handled in a separate case) is preparing to develop the "Mobius" project, that is, the issuance and promotion of MBUS (Mobius) virtual coins, cards, etc. Several people require participants to buy and hold MBUS coins, NFT cards, and MSS coins in the name of investing in virtual currencies and derivative project transactions. They actively develop offline personnel by "pulling people's heads" and defraud participants of a total of more than 964,300 USDT (1USDT is about equal to 1 US dollar, equivalent to about 6.39 million yuan). After the incident, 29,280 wallet address records of MBUS coin holders were identified, and the recommended total level was 48 layers. Seven people, including Li, Xiang and Huang, were sentenced to fixed-term imprisonment ranging from two to three years, and their sentences were suspended and fined.