According to Foresight News, police in Chifeng, Inner Mongolia, have uncovered a virtual currency platform suspected of being involved in a pyramid scheme. At the time of the case, the platform had over 18,000 registered members across 13 provinces and cities, with transaction volumes exceeding CNY 2 billion. In May 2023, more than 100 police officers carried out simultaneous raids in Beijing, Shanghai, and Chengdu, arresting 30 suspects. They also seized and froze virtual currency assets worth about CNY 10 million and confiscated several tools used in the alleged crime.