[China Guizhou Cyber Police Solve Illegal 'Virtual Currency' Crime Case] BlockBeats News, December 18 – The Cybersecurity Bureau of the Ministry of Public Security of China released a case report stating that the Guizhou Qiannan Cybersecurity and Economic Investigation teams worked together to crack a 'virtual currency' pyramid scheme case. The task force traveled to multiple locations and successfully apprehended 15 suspects. Upon investigation, it was found that the pyramid scheme organization promoted the slogan 'Everything of value in the world can be tokenized,' built a virtual currency platform without real-name registration, and established various hierarchical levels. Members participated in the pyramid scheme by staking virtual currency after recharging, earning profits through direct referral rewards by recruiting new members. This was a multi-level pyramid scheme with more than three tiers and thousands of participants. The criminals created a virtual currency online, using the promise of high returns from purchasing the currency as bait. They intentionally inflated the price of the virtual currency and categorized members into 'identity levels' based on their purchase amounts. As members advanced to higher levels, their returns increased, encouraging 'old members' to continue recruiting 'new members' and attracting more participants to the pyramid scheme. This structure allowed profits to be distributed incrementally across the hierarchy.