The Chinese government managed to detect a betting platform that worked under a pyramid scheme accumulating profits in cryptocurrencies during the world cup.
Chinese police have arrested hundreds of people in the city of Guangdong involved in online gambling platforms, which facilitated bets with 1.5 billion US dollars in cryptocurrencies including Bitcoin.
The operation included 21 Guangndon public security authorities leading to the arrest of 540 people suspected of organizing online gambling circles. Gambling is illegal according to Chinese law in the same way that it is illegal to participate in it.
During the operation, servers, computers, smartphones and bank cards were seized, in addition to that, seventy applications and mobile websites were closed, along with 250 online chat groups. Within the mass capture, authorities claim to have arrested "six key members" behind the gaming platform throughout China, who were frozen assets of around USD $ 750,000.
According to the Chinese authorities, the managers of the platform manipulated the odds or percentages of the bets so that only a small and select group of people had the fortune to win the bet
In the 8 months in which the platform was in operation, it attracted more than 330,000 members.
