Several core members of a pyramid scheme under the name of DAO were arrested in many places in China at the same time

Odaily Planet Daily News Liu Honglin, founder and director of Shanghai Mankiw Law Firm, issued an article saying that several core members of a well-known domestic DAO organization were arrested in many places in China at the same time. It should be investigated by the police for issuing Tokens within the DAO organization and conducting member incentives. This may be the first DAO organization suspected of criminal offenses in China. At present, the Mankiw lawyer team has accepted the commission to provide criminal legal services. Liu Honglin said that for volunteers participating in the DAO organization, as a new organization, DAO must conduct sufficient investigation and understanding before participating, so as to avoid using love to generate electricity, which will bring harm to themselves and fall into criminal law. Liability Risk. For the sponsors and core decision makers of DAO organizations, through compliance awareness and transparency, risk assessment and monitoring, as well as professional legal advice and community norms, criminal legal risks can be minimized to ensure the stable development and legality of the organization operate. In addition, according to Wu, the DAO involved in this article is a local organization similar to the traditional model. It conducts offline activities in a large number of second-tier cities and other places, and builds a so-called "backbone training camp" under the name of DAO. It is not a well-known DAO project in the field of cryptocurrency, but a traditional project in the name of DAO.