Mining service provider faces $100M lawsuit over pyramid scheme allegations in China

On Aug. 14, regional media reported that the court held a public hearing on a case that might potentially set a precedent in China for how crypto schemes are prosecuted and managed. The lawsuit implicates Shenzhen Space-Time Cloud Technology executives of setting up a pyramid plan that accumulated around $100 million and scammed their investors. Report on the public hearing held at the Peoples Court of Pingan County.