Court Sentences Defendants in Virtual Currency Pyramid Scheme

According to PANews, the Suqian Court has revealed details of a pyramid scheme disguised as a virtual currency investment project. The suspects created an online platform named 'ACORNS,' which lacked any real business operations. They issued virtual currencies like 'ACO,' promoting them as a means to participate in financial management with promises of high returns. Members were required to invest 100 USDT to gain static income. By the time the case was uncovered, the platform had over 3,000 active members and had accumulated nearly 316 million USDT. The Sucheng Court, after reviewing the case, sentenced the defendants to prison terms ranging from three to five years and three months for organizing and leading pyramid scheme activities. Additionally, fines ranging from 100,000 to 170,000 yuan were imposed.