Local police from the Fengxian district country Bureau in Shanghai China have arrested 31 people for alleged illegal pyramid schemes. During the crackdown, police seized over 400 million yuan ($62.5 million) in Ethereum, TEDA coins, and FIL coins from the arrested suspects. “Fengxian Country Bureau successively arrested 31 members of Star Alliance Network MLM criminal gangs in Shanghai, Wuhan, Shenzhen, and other places, and seized virtual currencies such as Ethereum, TEDA coins, and FIL coins worth about 400 million yuan.” According to a report by the Xuzhou Pubic Security, the arrest was part of the unified action for...