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Tag Archives: scam

Tencent Cooperates with China Authority in Crypto Scam Crackdown

Nov 25, 2019

Vincent He

A financial monitoring tool launched by Chinese Internet conglomerate Tencent helped China authority screen 39 enterprises suspected of illegal activities of cryptocurrency. Through AI analysis of government data, open information, reporting information, social media, “Lingkun”, the mo...

VDS-like Scam: Aircoin PGS Cracked Down in China

Oct 21, 2019

Vincent He

PGS, an Aircoin went bust in China after dumping its price in 19, October. Some niche crypto exchanges in China tend to cooperate with Aircoins to win more user flow and trade volume. Jack Huang, the founder of PGS claimed he boasted 9 billion Chinese yuan to maintain the project, ...

YouBank:Another Plustoken-like Crypto Wallet Scam

Aug 2, 2019

Vincent He

Recently, another crypto wallet scam named ‘YouBank’ emerges in China as cryptocurrency rally. It claims itself as the world’s first cryptocurrency bank, up to date, it has fleeced over billions of dollars from investors. It all began when the users started becoming suspicious with the i...

EGD scam cracked down in China 10.9 billion yuan involved

Jan 10, 2017

Red Li

People’s Daily, the most circulated newspaper in China, published a story on cracking down a virtual currency pyramid scheme under the name of EGD, which involved over 500 thousand members and 10.9 billion RMB. Another EGD clone named “Wanfubi”  was also cracked down with 120,000 r...