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PRC busts $1.5b World Cup Bitcoin gambling pyramid scheme

Police in south China’s Guangdong province announced this week that a suspected $1.5 billion illegal football gambling syndicate, that is said to be underpinned by a crypto-currency “pyramid marketing” scheme, has been smashed. Reports from Xinhua, say authorities made 540 arrests, froze assets of more than 5 million yuan and confiscated virtual currencies worth over […]

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