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Tag Archives: scam

Xunlei’s Stocks Plummet As Former CEO Gets Charged With Fraud

Oct 10, 2020

Xunlei Limited, a Nasdaq-listed cloud computing, and blockchain company from China found itself in the midst of a massive controversy regarding its former chief executive officer. In an announcement published on its official website, the company said that Chen Lei, its former CEO, was unde...

109 Key Members of the PlusToken Pyramid Scheme Arrested

Jul 31, 2020


The PlusToken saga that has shaken the crypto industry to its core seems to slowly be coming to its end. According to reports from local media, over 100 key members of what many describe as the biggest Ponzi scheme since Bitconnect have been arrested earlier this week. A news report from m...

Bitisis, An Iran-based Crypto Exchange Went Bust

Jun 15, 2020

Vincent He

Bitisis, an Iran-based crypto exchange widely reported by the Chinese media, has gone bust. Several sources indicate that the actual controller behind it comes from China. The scammers controlled several overseas exchanges that claim to be able to carry arbitrage to attract individual investor...

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...