### Suqian Court Cracks Down on Virtual Currency Pyramid Scheme#

60
2
Posts
Hot Topic Details

Hot Topic Overview

Overview

Suqian Court recently cracked down on a network pyramid scheme case disguised as a virtual currency investment and financial management project. The criminal suspects created the "ACORNS" online platform, issued virtual currencies such as "ACO," and promoted high returns to entice members to pay 100 USDT for financial management. Ultimately, the court determined it to be a case of organizing and leading pyramid schemes. The defendants were sentenced to imprisonment ranging from five years and three months to three years, and fined between 170,000 yuan and 100,000 yuan. The platform had over 3,000 active members, reaching 33 levels, and accumulating nearly 3.16 million USDT.

Ace Hot Topic Analysis

小 A

Analysis

The Suqian court recently cracked down on a network pyramid scheme that used investment in virtual currency financial products as a guise. The criminal suspects created the "ACORNS" network platform, issuing virtual currencies such as "ACO" and promoting them as a way to participate in financial management and earn high returns. They lured members to pay 100 USDT to participate in financial management in order to obtain static returns. The platform has effectively registered more than 3,000 members, with a total of 33 levels, and has accumulated nearly 3.16 million USDT in funds. The court found that the act constituted the crime of organizing and leading pyramid schemes, and sentenced the defendants in this case to prison terms ranging from five years and three months to three years, and fined them between 170,000 and 100,000 yuan. This case once again warns people that they need to be cautious when investing in virtual currency financial products, and must not blindly believe promises of high returns, lest they fall into pyramid schemes.

Related Currencies

Public Sentiment

0%
100%

Discussion Word Cloud

Classic Views

Virtual currency pyramid scheme cases are frequently occurring, it is necessary to strengthen supervision and crack down on them.

1

Network pyramid scheme cases using investment in virtual currency financial management projects as a guise, lure investors with high returns, and involve huge sums of money.

2

Pyramid scheme organizations utilize the anonymity and cross-border characteristics of virtual currency to evade supervision and make it difficult to track.

3

Court rulings serve as a deterrent to pyramid scheme criminals and maintain market order and investor interests.

4