Hebei High Court releases typical cases of cracking down on illegal fundraising, a man promoted the virtual goods investment project under the "Newmateworks" platform of "Yishang United Community" by packaging investment projects with the concept of "Metaverse," inducing the public to participate in investments, directly introducing 19 investors who invested 15.3936 million yuan, of which 1.1014 million yuan has been refunded, and 14.2922 million yuan has not been refunded.

The court's judgment held that this case used emerging technology concepts such as "Metaverse" as a cover to carry out fraudulent marketing, violating national financial management laws, with a large amount involved, and the behavior constituted the crime of illegal absorption of public deposits, sentencing to five years and four months in prison and a fine.