Authorities say they have busted a virtual currency-themed online pyramid scheme that ensnared at least 110,000 people and 1 billion yuan (about $156.4 million), Xinhua reported.
Police in Suining, Jiangsu province, received a tip-off from a person trapped in the scheme operated by an investment platform called BBGO that lured investment in non-existent plants and machinery dedicated to virtual currency mining.
Read the full report: Xinhua
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