CCTV finance and economics: insiders close to regulators told reporters: "the wave of arrests in the currency circle has just begun"

The title of the original text: "liangjian virtual currency! Many places to supervise the draft, coin, wave field official micro closed, digital currency collective fled"
Source: CCTV finance and economics

Recently, regulators in Shanghai, Beijing, dongguan, hangzhou, shenzhen and henan have been flashing their swords to investigate activities related to digital currency transactions. At the same time, coin, wave field official weibo was blocked. In addition, Beijing police recently cracked down on the illegal digital currency exchange BISS (currency market), which they characterized as an illegal fund-raising fraud, the first case in the currency circle in which all members of a virtual currency exchange were involved. A source close to the regulator told reporters: "the wave of arrests has just begun."

In the past 24 hours, the price of bitcoin has plunged to its lowest level in six months, dropping below $7,000 to as low as $6,790, on the news.

Before this, the reporter of securities times depth reported currency circle exchange issues money disorderly elephant (specific please stamp: shout double 11 sudden rich 100 times! Investigation into the chaos of blockchain currency bidding: air currency, pulling heads, cutting leeks, and shanzhai "exchange"), People's Daily, xinhua news agency, CCTV and other media have also focused on the chaos of blockchain, calling on investors to beware of digital currency fraud.

It is worth mentioning that many digital currency exchanges in the market have started to reduce the publicity, and tell the group members in the community to keep a low profile recently. Not only that, but a number of counterfeit COINS were taken off the shelves, meaning that the assets of these investors suddenly went to zero. "We called the police, but the victims were scattered all over the country and the police didn't accept them." Have stir - fry said to the reporter.

The digital currency plummeted, with bitcoin dropping below $7,000

In the past 24 hours, digital currencies have taken a collective plunge. Bitcoin fell as low as $6,790, its lowest level in six months, according to coinstock, and was trading at $7,244 as of press time, down $410.63 in 24 hours, or 2,874 yuan lost on a single bitcoin.



According to CoinMarketCap.com, a platform for information and trading, the top 10 digital currencies by market value collectively fell and were bloodied on Friday.

Campaign! Virtual currency "net net" continued

Recently, with the promotion and promotion of block chain technology, virtual currency speculation has shown signs of rising. In the name of "blockchain innovation", some enterprises organize virtual currency transactions in China. Issue virtual currency in the form of xx coin and xx chain on the basis of "landing of block chain application scenario", etc., to raise funds or virtual currency assets such as bitcoin and ethereum; For ICO projects registered abroad, virtual currency trading platform, etc. to provide publicity, drainage, agent trading services, etc., even some illegal organizations issue or promote legal digital currency in the name of the people's bank of China, or cheat investors with the gimmick of "legal digital currency".

On November 10, securities times reporters carried in-depth reports on these currency circles, and People's Daily, xinhua news agency, CCTV net and other media also called on investors to beware of digital currency scams.

Recently, regulators in Shanghai, Beijing, dongguan, shenzhen, hangzhou, henan and Inner Mongolia have also been "flashing their swords" to investigate activities related to digital currency exchanges.

On November 11, the department of industry and information technology of the Inner Mongolia autonomous region issued a notice on the joint inspection of virtual currency mining enterprises.

The main content of the inspection is to find out the virtual currency "mining" enterprises that have nothing to do with the real economy, evade regulation and consume a lot of energy. They use the "big data industry" as the packaging to enjoy the preferential policies of local electricity price, land and tax.

On Nov. 13, the Beijing municipal financial supervision bureau issued a warning on the risks of unauthorized business activities by branches of trading venues.

"If a branch of an out-of-town trading venue (focusing on financial assets exchange) carries out business activities in Beijing, it is an illegal business operation," the tips clearly pointed out.

In fact, nearly all digital currency exchanges operating in China have servers overseas and shell companies registered overseas. They are technically "out of town".

On November 14, under the leadership of the Shanghai mutual fund regulation office, the Shanghai financial stability joint office and the Shanghai headquarters of the people's bank of China jointly issued the "notice on carrying out the regulation of virtual currency trading venues".

The campaign focuses on activities related to virtual currencies, including virtual currency trading, issuing and raising funds, as well as providing publicity and drainage for exchanges registered overseas, according to the notice. According to the relevant deployment of the national gold exchange renovation office, the gold exchange renovation office of each district within its jurisdiction will conduct a trial of activities related to virtual currency and complete the work before November 22.

On November 21, shenzhen Internet financial risks rectification work leading group office of "virtual currency" to prevent the risk of illegal activities, and notify the district management office, the former sea administration bureau, shenzhen central sub-branch of the people's bank of economic investigation bureau, the municipal public security bureau, municipal communications bureau and other units jointly conduct virtual currency trading places screen.

It is reported that this action will focus on three kinds of activities: one is to provide virtual currency trading services or set up virtual currency trading places in China; Second, provide service channels for overseas virtual currency trading places, including drainage, agent trading and other services; Third, it issues tokens in various names to raise funds from investors or virtual currencies such as bitcoin and ether.

According to the latest information, the local financial supervision bureau of shenzhen has identified 39 enterprises involved in illegal activities of virtual currency through the lingkun system.

Two of China's three major digital currency exchanges have had their official microblogs blocked.

On November 13, the official weibo account of coin security was closed for violating laws and regulations and the weibo community convention. It is worth noting that while the official weibo of coon was closed, the contents displayed on its account and the number of followers were also cleared.

On November 15, wave field's official microblog "wave field TRON official blog" was blocked. The page shows that the account has been complained of violating laws and regulations as well as relevant provisions of the microblog community convention, and is now unavailable for viewing.

In addition, Beijing police have cracked down on the illegal digital currency exchange BISS, describing it as an "illegal fund-raising fraud" and arrested dozens of suspects, including interns who had been working for several months, according to reporters.

It is worth mentioning that in recent days, the major exchanges have started to remove counterfeit COINS in bulk. For example, the Biki exchange reported by the reporter of the securities times, responded to the public after the report was published, saying that the company has already removed the first batch of currencies that do not meet the standards, and will remove the second batch of currencies in the near future. This also calls into question Biki's qualification examination of project parties when issuing tokens.



Batch withdrawal currency, that means that the currency can not be traded, coin speculators put all the money to zero. We went to call the police, but the police didn't accept it because investors are scattered all over the country, so it's hard to call the police.

The head exchange has also recently started to remove some counterfeit COINS, while many of the virtual COINS that have been removed from the shelves have only recently been on the shelves.



Some coin speculators told reporters that recently, almost every day broke the news of which virtual currency exchange can not withdraw COINS.

On November 6th the gravity-driven GGBTC exchange was unable to withdraw money. The website is no longer accessible.

On Nov. 6, the Newton exchange, where the mainline currency is exchanged for nt dollars, was unable to withdraw the currency.

On November 11, the imitation disk of PLUS TOKEN, the MGEX of deposit and interest cannot withdraw COINS.

The personage inside course of study says to the reporter, "even if don't want to virtual currency exchange network run road, also can be run on bankruptcy. After all, in addition to raise the mainstream currency, virtual currency exchange and some exchange flat t (c) air produced spontaneously, exchange where to find so many mainstream currency and cash reserves for investors to run, exchange, after all, is not a bank, no reserves."

It is called virtual currency exchange, which is actually a "capital plate"

According to the notes has revealed that, following by the mainstream media reported a BiKi, another web celebrity exchange, also use this type of VDS resonance COINS, two-way harvest air currency, behind the boss Chen jian in their own market value management, and steal the frequent harvesting investors such as constructing mice storehouse and project, the exchange technology at present chengdu office has also been chengdu economic investigation, but founder Chen jian is not in domestic.

According to public information, the exchange has launched a total of more than 165 currencies and 220 trading pairs so far, but in August 2018, the number of currencies launched by the exchange was only 34, most of which are not mainstream currencies have been removed.

On Nov. 22, the exchange also removed several counterfeit COINS.



The exchange's history dates back to April 2018, but it has been tepid as the virtual currency world was in a bear market because of domestic regulation. In February 2019, the exchange changed tack and launched VDS resonance COINS, which rose nearly 20-fold two months later. To explore the mode of VDS, the main means of transaction is to exchange bitcoin for VDS currency, and the typical pyramid selling mode is adopted at the promotion level. On the one hand, the currency price protection skyrocketed, and on the other hand, the MLM promotion, pull the head in to receive, VDS online for the exchange to bring a lot of traffic.

After VDS, this exchange successively launched LDS, HDS, FDS and other resonant COINS, with the same pattern, and these resonant COINS from the beginning to the end were questioned by the market have no real value, called resonance, in fact, "capital plate", this exchange also began to be known as "capital plate exchange".

Resonance is a new "financing" mode in the currency circle, which was first proposed by the VDS project. The most core gameplay, VDS is that COINS "resonance", users with COINS one-way conversion is simple to understand "VDS", the earlier involved in the resonance resonance currency exchange ratio is higher, a decreasing back, until the end of the resonance, so this is a typical MLM pyramid structure, the earlier the lower the risks to those involved, the higher the income. Once the end of the resonance period, reduce the number of participants, the large family also absorbed enough chips, began to hit the plate.

After seeing the real benefits of the exchange's VDS launch, Biki also started VDS, relying on pyramid schemes for drainage. VDS rose briefly after the launch of Biki, hitting a high of $12 before dropping sharply. As of Nov. 23, VDS was trading at $0.613, down as much as 95%.

Biki CEO lee hsien dong's much-vaunted star project VDS has raised more than 1.3 billion yuan with a total circulation of 2.1 billion pieces. Lee said its daily turnover is more than 20 million yuan.

Most of the currencies listed on both exchanges were launched after February 2019, and after crazy loading, crazy selling has recently started.

In response to the launch of Biki and other controversial fake COINS such as VDS, lee said in an interview that survival is the key and innovation should be tolerated.

"It is only a matter of time before the currency circle is severely investigated. The proliferation of pheasant exchanges and the fake technology of the project side under the cloak of" block chain "make the currency circle again and again the trend of crying leeks. What's more, exchanges like coin security, BIKI and this exchange have been full of negative news, which should have been severely investigated and punished." Currency circle insiders told reporters.

Silver block rhythm BlockBeats reminded, according to the circ and other five departments issued in August 2018 on the guard against in the name of the "virtual currency" "block chain" illegal fund-raising risk warning "file, please the public rationality block chain, don't blindly believe in reduction commitment, set up correct concept of money and investment philosophy, effectively raise the risk consciousness; To the illegal crime clue that discovers, can report to concerned branch actively reflect.

Source:https://weibo.com/ttarticle/p/show?id=2309404442157502038023

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