Chinese authorities have convicted three ringleaders of a crypto pyramid scheme that defrauded over 10,000 people. On September 18, the Zhongxiang City Procuratorate of Hubei Province confiscated over 22.59 million yuan (roughly $32 million) in illegal profits, and each leader received a three-year prison sentence, suspended for five years, and was fined 350,000 yuan each. The post China Cracks Down on Crypto Pyramid Scheme, Victims Reimbursed appeared first on Coin Edition .