{"id":39448,"date":"2022-03-17T09:00:22","date_gmt":"2022-03-17T09:00:22","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=39448"},"modified":"2022-03-17T09:00:22","modified_gmt":"2022-03-17T09:00:22","slug":"shanghai-police-bust-us16-million-cryptocurrency-pyramid-scheme-amid-crackdown-on-digital-token-fundraising","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=39448","title":{"rendered":"Shanghai police bust US$16 million cryptocurrency pyramid scheme amid crackdown on digital token fundraising"},"content":{"rendered":"<p>Source: China &#8211; South China Morning PostShanghai police have busted an online pyramid scheme that used cryptocurrencies worth more than 100 million yuan (US$15.7 million), the latest example of China\u2019s ongoing crackdown on fundraising activities involving digital tokens.The company alleged to have committed the crime established a platform in June 2020 that claimed to offer \u201cservices to appreciate cryptocurrency\u201d. Users were asked to exchange their fiat currency for platform tokens to gain membership, which came with incentives, but\u2026<a href=\"https:\/\/www.scmp.com\/tech\/policy\/article\/3170797\/shanghai-police-bust-us16-million-cryptocurrency-pyramid-scheme-amid?utm_source=rss_feed\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: China &#8211; South China Morning PostShanghai police have busted an online pyramid scheme that used cryptocurrencies worth more than 100 million yuan (US$15.7 million), the latest example of China\u2019s&hellip; <\/p>\n","protected":false},"author":0,"featured_media":39449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/39448"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39448"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/39448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/media\/39449"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39448"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}