A group of aggrieved investors in china who were scammed in a cryptocurrency investment scheme, created another fraudulent program to recover losses, before being busted by the police.
So how did this scheme start? One of the investors, a man named Yang, had lost funds to different MLM schemes disguised as blockchain projects. According to the report, Yang took an interest in virtual currencies, and blockchain projects, after seeing different advertisement that showcased all the benefits and profits he could make by investing in this sector. But after a series of investments, without any profit, but rather losing up to 100,000yuan, he discovered he had been scammed. Most of the projects turned out to be ponzi schemes, and MLM, with fictitious projects and value.
