Recently, South Korea has exposed a Ponzi scheme under the guise of virtual currency. Preliminary investigations showed that about 69,000 people had been cheated of a total of 3.85 trillion won, or about 22.1 billion yuan. Many of the victims are elderly.

69,000 people were defrauded of 22.1 billion yuan, with the majority of victims being elderly

According to reports, a company called "V Global" claims to operate a virtual currency trading platform, persuading people to open an account and invest in the platform, promising investors several times the return in a short time. South Korean police launched a nationwide investigation into the case last month due to frequent reports from all over the country. According to the Gyeonggi Provincial police recently revealed that the culprit is believed to be a company called V Global, and its CEO and about 70 employees are under police investigation.

The company claimed to operate a virtual currency trading platform with a minimum investment of 6 million won, promising investors a return several times in a short period of time, the police said. A South Korean police official said: "It looks like a Ponzi scheme. We are investigating further and expect to find more victims."

However, because many victims, especially the elderly, have been slow to report, the police investigation is facing no small difficulty. A man in his 40s said his mother had been tricked into investing 13 million won (about 75,000 yuan), "I advised her to call the police, but she always thought she could get the money back, so she refused to call the police." As far as I know, there are many other elderly people like her who fall for it, and 'virtual currency' is new to these elderly people."

The man said the scam company had recently tried to get his mother to sign a document declaring that the signatory had not been defrauded. "The company keeps telling investors to hold their horses and wait for results." In this way, investors have a lucky mind and are not willing to call the police.

Beware of Ponzi schemes

The virtual currency market is chaotic, the price of skyrocketing and plummeting, and the goods of Musk and other network celebrities, as well as some of the "myths of wealth" circulating in the community, so that the currency has entered the field of view of the ordinary people, many people rushed in with the mentality of getting rich overnight, but the result was heavy losses and reported "negative" overnight.

At the same time, "altcoins" are popular, and many virtual currency companies issue various virtual currencies under the banner of "virtual currency can make a fortune". Investors who lack the ability to discriminate are becoming their targets.

It is worth noting that on June 10, at the 13th Lujiazui Forum, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said in a video speech that it is necessary to always be vigilant against various kinds of "Ponzi schemes". At present, various scams under the banner of so-called financial technology and Internet finance with high interest returns as bait are emerging in an endless stream, and their essence is illegal fund-raising activities. We must bear in mind that no pie will fall from the sky, and promoting "capital preservation and high yield" is a financial fraud.

Special reminder, financial fraud is emerging in an endless stream, we must consciously raise vigilance, enhance risk prevention awareness and identification ability, away from all kinds of illegal financial activities, away from black platforms! If you have investment needs, you can first go to the trader column to inquire about the platform and choose a formal platform for investment.