Authorities in Taizhou, Zhejiang have uncovered a scam involving the promotion of facial recognition payment devices under the guise of the "metaverse" and "cryptocurrency." The criminal group attracted investors through a points system, subsequently persuading them to purchase self-issued "air coins." They manipulated prices and locked assets to extract funds, ultimately defrauding over 130 investors of approximately $35 million. The court found the defendants guilty of fraud with the intent of illegal possession, sentencing them to 10 years in prison and a fine of $30,000.