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Recently, the Beijing Haidian District Market Supervision Bureau investigated the city's first illegal case using blockchain and virtual currency technology to assist in pyramid scheme activities. The technology company involved in the case is a public chain outsourcing service provider. The public chain's “Atomic Plan” and “Hathaway Plan” are pyramid scheme projects with the core model of getting rewards. Participants are required to invest funds to qualify for participation. The public chain was investigated and prosecuted by the public security authorities in accordance with the law, and the pyramid scheme organizers involved have all been taken into criminal detention. The technology company involved in the case should subjectively know that there is a pyramid scheme application on the public chain. According to section 26 of the “Regulations Prohibiting Pyramid Scheme”, the technology company involved in the case was fined a total of more than 930,000 yuan for providing convenient conditions for pyramid scheme activities.
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Recently, the Beijing Haidian District Market Supervision Bureau investigated the city's first illegal case using blockchain and virtual currency technology to assist in pyramid scheme activities. The technology company involved in the case is a public chain outsourcing service provider. The public chain's “Atomic Plan” and “Hathaway Plan” are pyramid scheme projects with the core model of getting rewards. Participants are required to invest funds to qualify for participation. The public chain was investigated and prosecuted by the public security authorities in accordance with the law, and the pyramid scheme organizers involved have all been taken into criminal detention. The technology company involved in the case should subjectively know that there is a pyramid scheme application on the public chain. According to section 26 of the “Regulations Prohibiting Pyramid Scheme”, the technology company involved in the case was fined a total of more than 930,000 yuan for providing convenient conditions for pyramid scheme activities.
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