Odaily News The procuratorial case found that in recent years, with the continuous increase in the efforts to punish pyramid schemes in accordance with the law, from January to September 2024, the procuratorial organs across the country prosecuted 4,627 people for organizing and leading pyramid schemes. Criminals took advantage of the virtuality and convenience of the Internet to fabricate a variety of "get-rich scams" that were difficult to distinguish between true and false, and lured the masses to participate. Some used new concepts and social hot spots such as virtual currency, blockchain, financial innovation, and charity to carry out online pyramid schemes. For example, the case of Sheng Moumou and others organizing and leading pyramid schemes. Sheng Moumou and others fabricated Google's "Google Coin" blockchain project, publicly promoted and hyped it through online media, and announced the subscription to purchase "Google Coin" to the outside world, using ETH (Ethereum) as the settlement currency. A total of more than 60,000 members were developed, and illegal profits of more than 20 million yuan were made. (CCTV News)