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On 30th July, Ministry of Public Security of the PRC announced that the ‘Plus Token’ network marketing case has been cracked down, all 27 principle suspects and 82 core members have been arrested and the transnational network pyramid sales organization has been dismantled. This case was the first network pyramid scheme involved with bitcoin and other cryptocurrencies to be cracked by Chinese public security authorities. It involved more than two million participants, as many as 3,000 layers of organizational structure, and the total value of the digital currency involved was approximately $5.7 billion. [link] [comments] |
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