Big news! The "Yunbao Assets" virtual currency network pyramid scheme case was cracked

On the 11th, the Economic Investigation Brigade of the Hulun City Public Security Bureau successfully cracked a case of organizing and leading pyramid schemes involving more than 1.2 million yuan and arrested the suspect Shi.

The case arose when the Dongfanghong People's Court discovered that the defendant Shi was suspected of illegal pyramid selling during the handling of a private loan dispute, and decided to transfer the case to the Hulun City Public Security Bureau for handling.

After investigation, it was found that Shi used the Yunbao Asset APP to deceive the public, and advertised to the public that it was a digital virtual currency issued using blockchain technology. He charged each member a membership fee of 36,300 yuan to purchase a virtual smart mining machine, which earned about 480 yuan a day in cash. In order to attract members to join, each member's downline could receive a commission of 8% of the fees paid by their downline members.

After in-depth investigation, it was found that during the entire activity, Shi developed a total of 39 downlines, including himself, divided into 7 levels. The Hulun Economic Investigation Brigade found 18 of the participants and confirmed that Shi organized and led the illegal pyramid selling activities of Yunbao Investment.

Since the criminal suspect Shi refused to appear after receiving a telephone summons from the Hulin Economic Investigation Brigade and changed his mobile phone number to hide his whereabouts, the Hulin Economic Investigation Brigade decided to arrest him.

On the 11th, after extensive searches and analysis, Shi's hiding place was discovered. The police from the Hulin Economic Investigation Brigade quickly rushed to Shi's location, persisted in squatting, and arrested Shi in Baoqing County.

At present, the suspect Shi has been detained and the case will be transferred to the procuratorate for further trial.

Yingjian learned that the mining machines of "Yunbao Assets" are divided into four levels: A, B, and D. The price of A-level mining machines is 10,000 CGA; the price of B-level mining machines is 5,000 CGA; the price of C-level mining machines is 2,500 CGA; and the price of D-level mining machines is 1,250 CGA. 1 CGA is equal to 3.61 yuan, and 10,000 CGA is equal to 36,100 yuan.

According to a participant of "Yunbao Asset", "Whoever has 10,000 coins can start a mining machine for you. You just need to give the money to whoever you want. It costs 36,100 yuan to start mining. If someone works on a project with you, you will be rewarded with 7 coins a day, which is worth more than 20 yuan. In short, you invest 36,000 yuan in the largest mining machine, and you can make about 570 yuan from selling coins every day. The 100-day contract will make a net profit of more than 10,000 yuan. You can make 10,000 yuan in one round and more in the next round."

Related reading:

Recently, virtual currency "mining" has been carried out in various forms. Some lawless elements in this type of behavior, under the banner of "financial innovation" and "blockchain", have raised funds by issuing so-called "virtual currency", "virtual assets" and "digital assets", which poses a risk of infringing on the legitimate rights and interests of the public. The relevant risks and identification methods are hereby reminded as follows:

At present, the illegal use of "virtual currency" and "blockchain" to absorb funds is not based on blockchain technology, but is the hype of blockchain concepts to conduct illegal fundraising, pyramid schemes, and fraud. Such illegal and criminal means mainly have the following characteristics:

First, it is networked and cross-border. Relying on the Internet and chat tools to conduct transactions and using online payment tools to receive and pay funds, the risks are widespread and spread quickly. Some criminals rent overseas servers to build websites, actually conduct activities for domestic residents, and remotely control and implement illegal activities. Some individuals claim in chat tool groups that they have obtained investment quotas for high-quality overseas blockchain projects and can invest on their behalf, which is very likely a fraudulent activity. Most of the funds for these illegal activities flow overseas, making supervision and tracking very difficult.

Second, they are highly deceptive, tempting, and concealed. They use hot concepts to hype and fabricate a variety of "high-end" theories. Some even use celebrities to promote and use airdrops of "candy" as temptations, claiming that "the currency value will only rise and not fall" and "the investment cycle is short, the return is high, and the risk is low", which is highly deceptive. In actual operations, criminals illegally make huge profits by manipulating the price trend of so-called virtual currencies behind the scenes, setting profit and withdrawal thresholds, and other means. In addition, some criminals also issue tokens under the names of ICO, IFO, IEO, etc., or hype virtual currencies in the form of IMO under the banner of the sharing economy, which is highly concealed and confusing.

Third, there are multiple illegal risks. Through public propaganda, criminals use "static income" (profit from currency appreciation) and "dynamic income" (profit from developing downlines) as bait to attract the public to invest funds, and induce investors to develop personnel to join, and continuously expand the capital pool, which has the characteristics of illegal fundraising, pyramid selling, fraud and other illegal activities. Such activities usually use "financial innovation" as a gimmick, but in essence they are Ponzi schemes of "borrowing new to repay old", and it is difficult to maintain the operation of funds in the long term.

Recently, blockchain has become a hot investment concept, but blockchain is a new technology, and the technology and rules are not yet mature. At the same time, there are multiple risks in the issuance, financing and trading of tokens, including the risk of false assets, the risk of business failure, and the risk of investment speculation. Investors must bear the investment risks themselves. We hope that investors will be careful not to be deceived. For all kinds of illegal financial activities carried out under the name of "coin", the general public in the district should strengthen their risk prevention awareness and identification capabilities, and report relevant illegal and irregular clues in a timely manner.

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