Hubei Shiyan issues warning against virtual currency pyramid scheme risks

The Shiyan Municipal Market Supervision Bureau in Hubei Province recently received numerous complaints and reports regarding virtual currency projects such as "Uke Chuang," "Shiyi Hui," and "Ronghui Capital." Initial investigations revealed that these projects advertised returns on investments in cryptocurrencies. Their model involved using offshore platforms for online cryptocurrency speculation and recruiting members through a multi-asset model. In addition to profiting from following individual investors, members were also required to share their profits and invite new investors to participate, profiting through "recruiting members." This behavior is suspected of using pyramid schemes to conduct illegal financial activities and poses significant risks.