Pan Yizhang, who is quite well-known in the cryptocurrency circle, has been interviewed by the media several times to share his experiences. However, he is now under investigation due to suspicion of fraud.
According to reports, Pan Yizhang and his team used social platforms and pyramid schemes to induce investors to purchase virtual currencies such as MOCT (Magic Coupon Coin), NFTC, and BNAT, promising that these currencies would be listed on well-known exchanges like ProEX. However, when the prices of these coins plummeted, investors were unable to liquidate them and subsequently reported the matter to the police.