A Chinese court has upheld the sentences of four individuals involved in a pyramid scheme disguised as a virtual currency operation. In 2023, the group, led by an individual named Li, used the allure of virtual currencies and NFTs to construct a multi-level marketing scheme, amassing over 20 million yuan in just six months. In December 2024, the Shishi Court in Fujian sentenced the defendants to prison terms ranging from three to six and a half years, along with fines and the confiscation of illegal gains. The appeal was rejected in July 2025, affirming the original verdict.