PANews, August 10 - According to a report from (China Consumer News), the reporter learned from the Shiyan Market Supervision Administration in Hubei Province that the bureau has recently received multiple complaints regarding virtual currency projects such as 'Youkechuang', 'Shiyi Hui', and 'Ronghui Capital'. Preliminary investigations revealed that projects like 'Youkechuang', 'Shiyi Hui', and 'Ronghui Capital' claim that investing in cryptocurrency can yield profits. Their models involve using overseas platforms for online trading and developing members through a fission model. In addition to profiting from following investment orders, members must also profit by sharing and inviting new participants to invest, thereby earning money through a 'head-hunting' method. This behavior is suspected of using pyramid scheme tactics to conduct illegal financial activities, posing significant risks.
In order to protect the property safety of consumers, according to the provisions of the (Regulations on Prohibition of Pyramid Schemes) and the (Notice on Further Preventing and Handling Risks of Speculation in Virtual Currency Transactions), the Shiyan Market Supervision Administration hereby issues a risk warning to be vigilant against the traps of virtual currency pyramid schemes.