Beijing’s Haidian market regulator imposed an administrative penalty totaling more than 930,000 yuan on an unnamed technology company for supporting cryptocurrency-related pyramid-scheme activity, Beijing Daily reported October 28. The reported amount combines fines and confiscation.
Outsourced services
The company provided operations, promotion, exchange integration and maintenance services to an unnamed public blockchain, according to the report. Programs on that blockchain required participants to contribute money to join and based rebates on the number of people recruited.
Beijing Daily reported that regulators found the technology provider should have known about the recruitment-based activity but continued supplying technical and promotional support, facilitating the scheme’s operations and movement of funds.
Sources: the Beijing Daily report, published October 28, 2026, at 20:49 Beijing time, and the BlockBeats flash, published October 29 at 06:32:03 UTC.