Hubei Shiyan issues warning on the risks of virtual currency pyramid schemes

The reporter learned from the Market Supervision Bureau of Shiyan City, Hubei Province that the bureau has recently received multiple complaints and reports against virtual currency projects such as "Youkechuang", "Shiyihui", and "Ronghui Capital". After initial investigation, virtual currency projects such as "Youkechuang", "Shiyihui", and "Ronghui Capital" claim that investing in cryptocurrencies can generate profits. Their model involves using overseas markets for online cryptocurrency trading and developing members in a fission form. In addition to making profits from follow-up investments, members also need to invite new investors to participate in investment through sharing, in order to "attract people" to make profits. This behavior is suspected of using pyramid schemes to carry out illegal financial activities, which poses significant risks. To ensure the property safety of consumers, in accordance with the "Regulations on the Prohibition of Pyramid Selling" and the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation", the Market Supervision Bureau of Shiyan City hereby issues a risk warning to be vigilant against the pitfalls of virtual currency pyramid selling. (China Consumer News)