Crypto Pyramid Scheme Mastermind Extradited to China from Thailand
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Crypto pyramid scheme mastermind Zhang Moumou has been extradited from Thailand to China after an international manhunt.
According to a report from local Chinese media outlet The Paper, the incident marks the first successful extradition of an economic crime suspect from Thailand under the China-Thailand Extradition Treaty, signed in 1999.
Since 2012, Zhang led the MBI Group, a criminal organization that operated a sophisticated online pyramid scheme.
The scheme lured victims by issuing virtual digital currencies and promising them high returns on their investments.
Participants were required to pay fees ranging from 700 to 245,000 yuan ($98 to $34,316) to join the platform, with earnings tied to recruiting new members and the amount of funds invested.
Over the years, the scheme ensnared more than 10 million people, with the total funds involved exceeding 100 billion yuan ($14 billion).
The scale and complexity of MBI Group’s operations placed Zhang among China’s most wanted economic crime suspects.
这个新闻的“1000亿”还是写的保守了，我18年的时候就写过他们，根据数据，MBI当年至少吸纳资金高达5000亿，祖师爷级别！
估计很多人不知道MBI这个集团，这是马来西亚跨国传销资金盘的鼻祖，2012年开始运营，什么华英会、分投趣、ACE、普塔道看了全得喊一句大哥。
他搞了三个东西——… pic.twitter.com/LAH17ewGVU
In November 2020, the Chongqing Municipal Public Security Bureau officially filed charges against Zhang, and by March 2021, the Interpol China National Central Bureau had issued a red notice for his arrest.
Zhang’s apprehension by Thai police on July 21, 2022, marked a critical breakthrough in the case.
However, the extradition process was complex and drawn out.
China
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