Xinhuanet: There are more than 3,000 pyramid schemes in my country that use the concept of blockchain

According to Xinhua News Agency, in recent years, with the sharp rise and fall of Bitcoin and the increasing popularity of the concept of blockchain, pyramid schemes and frauds under the banner of blockchain have also appeared frequently. Data shows that at the beginning of this year alone, there were more than 3,000 pyramid schemes in my country that used the concept of blockchain.

In recent blockchain fraud cases, the methods used by criminals are actually very "old-fashioned". One is to "make money out of nothing" and speculate on the high value of the currency to "cut leeks"; one is to "sell dog meat under the guise of sheep", using the name of "virtual currency" to do "pyramid scheme currency"; and another is to "use foreign things for China's benefit" and even "export and sell domestically".