At the end of 2023, Kunming police cracked a pyramid scheme involving pledged virtual currency mining, involving more than 280 million yuan.

Odaily News On May 14, the Economic Investigation Department of the Kunming Municipal Public Security Bureau held a press conference on the "May 15" Combating and Preventing Economic Crimes Publicity Day, reporting 5 typical cases of combating and preventing economic crimes, helping the masses and various market entities to improve their ability to identify and prevent economic crimes. In November 2023, the Economic Investigation Detachment of the Kunming Municipal Public Security Bureau successfully cracked a new type of online pyramid scheme crime case using virtual currency and blockchain concepts as carriers. Since 2022, Li Moumou and others have established a community on a public chain on the Internet, using "static mining income through pledgeable virtual currency" and "developing downline pledge virtual currency mining can obtain a large amount of dynamic pull income" as bait, claiming that each level of players can get management rewards of 2% to 30% of the direct push downline income. As of April 2023, his gang has developed more than 10,000 members, the criminal organization has formed 15 levels, and the funds involved are more than 280 million yuan. At present, 15 criminal suspects have been arrested in this case, 8 have been approved for arrest, and 11 have been transferred for review and prosecution. (Yunnan.com)