Core Viewpoint - The "Xinkangjia" platform, falsely claiming to be associated with the Dubai Gold and Commodities Exchange (DGCX), has collapsed, affecting approximately 2 million investors with a total amount involved reaching 13 billion yuan [1][3]. Summary by Sections Platform Operations - "Xinkangjia" promised a daily return of 1% on investments, using USDT for transactions and requiring a minimum investment of 1,000 USDT. The platform operated under the guise of virtual currency investments, claiming to be a Chinese branch of DGCX [4][6]. - After the platform became unable to process withdrawals on June 25, 2025, it was revealed that the company was accused of tax evasion, leading to the freezing of all accounts [4][5]. Investor Experience - Many investors, despite the inability to withdraw funds, were still drawn to the platform's "tax payment" scheme, which required them to pay 10% of their holdings to access their funds. This scheme was perceived as a final attempt to extract more money from investors [5][6]. - An investor reported that their investment of over 30,000 yuan became worthless within a month, as the platform's app became inaccessible [5]. Regulatory Warnings - Multiple regulatory bodies across regions such as Sichuan, Guangdong, Jiangxi, and Hunan issued warnings about "Xinkangjia," identifying it as a Ponzi scheme with significant illegal fundraising risks [10][12]. - The DGCX officially stated that it had no partnerships or affiliations in China, warning that any claims to the contrary were unauthorized [8]. Company Background - "Xinkangjia" was operated by Guizhou Xinkangjia Big Data Service Co., Ltd., which was established in April 2024 and had been listed as operating abnormally due to communication issues [13]. - The company applied for deregistration following a resolution to dissolve on May 18, 2025 [13]. Expert Insights - Experts noted that the use of virtual currencies in such schemes exploits consumers' limited understanding of these assets, leading to significant financial losses [14]. - Legal advice emphasized the importance of understanding where funds are going, what they are being used for, and who is responsible in case of issues before investing in such platforms [14].

Core Viewpoint - The "Xinkangjia" platform, masquerading as a branch of the Dubai Gold and Commodities Exchange (DGCX), has collapsed, affecting approximately 2 million investors with a total amount involved reaching 13 billion yuan [1][3][5]. Group 1: Platform Operations and Promises - "Xinkangjia" claimed to offer high returns of 1% daily, utilizing virtual currency investments and requiring a minimum entry fee of 1,000 USDT [5][6]. - The platform operated under the guise of investing in overseas gold and oil markets, promising substantial returns, but became non-operational by late June 2025 [6][12]. - After the platform's failure to allow withdrawals, it proposed a "tax payment" scheme, demanding users pay 10% of their holdings to access their funds, which many viewed as a final attempt to extract more money from investors [5][8]. Group 2: Regulatory and Legal Issues - The DGCX issued warnings stating that it had no partnerships or affiliations in China, and any claims to the contrary were unauthorized [10]. - Multiple regulatory bodies across various provinces, including Hunan and Guangdong, issued alerts regarding the platform's operations, labeling it a Ponzi scheme with significant illegal fundraising risks [12][15]. - The operational entity, Guizhou Xinkangjia Big Data Service Co., Ltd., was established in April 2024 and faced multiple issues, including being listed for abnormal operations due to uncontactable business premises [17]. Group 3: Investor Impact and Reactions - Reports indicate that many investors, despite the risks, were drawn to the platform due to its high return promises and the allure of virtual currency investments [8][12]. - Affected investors expressed frustration, with some losing significant amounts, such as over 30,000 yuan, and being unable to withdraw their funds [6][12]. - The platform's collapse has highlighted the risks associated with virtual currency investments, particularly in schemes that lack transparency and regulatory oversight [17].

Core Viewpoint - The "Xinkangjia" platform, masquerading as a branch of the Dubai Gold and Commodities Exchange (DGCX), has collapsed, affecting approximately 2 million investors with a total amount involved reaching 13 billion yuan [1][2][4]. Group 1: Platform Operations - "Xinkangjia" claimed to offer high returns of 1% daily, utilizing virtual currency investments and requiring a minimum entry fee of 1,000 USDT [4][10]. - The platform's operations were based on a Ponzi scheme model, promising high returns while using USDT for transactions, making it difficult for authorities to trace funds [9][10]. - After the platform became unable to process withdrawals, it introduced a "tax payment" scheme, requiring users to pay 10% of their holdings to withdraw funds, which many viewed as a final attempt to exploit investors [4][10]. Group 2: Regulatory Warnings - Multiple regulatory bodies across regions, including Sichuan, Guangdong, Jiangxi, and Hunan, issued warnings about the significant illegal fundraising risks associated with "Xinkangjia" [15][17]. - The DGCX officially stated that it has no partnerships or affiliations with "Xinkangjia," highlighting the fraudulent use of its name [12]. - The platform's operator, Guizhou Xinkangjia Big Data Service Co., Ltd., was established in April 2024 and has faced multiple operational issues, including being listed as an abnormal business entity [17]. Group 3: Investor Impact - Investors, such as a participant named Huang Zheng, reported being unable to withdraw their funds after investing over 30,000 yuan, with the platform's app becoming inaccessible [7]. - The scheme attracted a large number of participants despite the evident risks, indicating a willingness among some consumers to engage in high-risk investments [10].

Core Viewpoint - The article discusses the fraudulent activities of the "Xinkangjia" investment platform, which has been identified as a Ponzi scheme combined with a multi-level marketing structure, leading to significant financial losses for investors [3][4][29]. Group 1: Overview of "Xinkangjia" - "Xinkangjia" platform was established in 2021, initially claiming to engage in oil spot trading and later shifting to derivatives trading, falsely associating itself with the Dubai Gold and Commodities Exchange (DGCX) [6][19]. - The platform attracted around 2 million investors with claims of high returns, reportedly involving approximately 13 billion yuan in total investments [3][4]. - DGCX has publicly denied any affiliation with "Xinkangjia," warning that the platform is unauthorized and operates without any legitimate partnership [8][9]. Group 2: Investment Structure and Operations - "Xinkangjia" employed a nine-level hierarchical structure to incentivize recruitment, with participants earning rewards for bringing in new members, creating a classic Ponzi scheme dynamic [13][19]. - The platform promised daily returns of 0.2% and used various promotional tactics, including offering luxury cars as incentives for high investments [20][19]. - Investors were required to purchase USDT (Tether) for transactions, complicating the process and leading many to transfer funds to higher-level members for conversion [22][30]. Group 3: Regulatory Environment and Risks - The Chinese government has previously banned virtual currency investments, and multiple warnings have been issued regarding the risks associated with platforms like "Xinkangjia" [23][24]. - Local authorities have identified "Xinkangjia" as a significant illegal fundraising risk, highlighting its use of high-return promises and multi-level marketing tactics [28][24]. - The article emphasizes the growing trend of such schemes leveraging stablecoins to bypass financial regulations, posing a threat to investors and the broader financial system [30][33].

Core Viewpoint - The investment platform "DGCX Xin Kang Jia" has been identified as a fraudulent scheme, attracting approximately 2 million investors with a total involvement of 13 billion yuan, ultimately leading to its inability to process withdrawals and the founder's disappearance [1][5][9]. Group 1: Business Model and Operations - "DGCX Xin Kang Jia" operated under the guise of a virtual currency investment platform, promising daily returns of 1% and utilizing a multi-level marketing structure to recruit new investors [1][3][6]. - The platform falsely claimed to be affiliated with the Dubai Gold and Commodities Exchange (DGCX) and employed high-yield investment strategies to lure participants, which were later revealed to be part of a Ponzi scheme [5][9]. - Investors were encouraged to reinvest their earnings and recruit new members, with rewards structured based on the number of new recruits, creating a cycle of dependency on new investments for returns [6][10]. Group 2: Investor Experiences and Reactions - Many investors reported significant losses, with one individual claiming to have lost over 55,000 yuan (approximately 8,300 USDT) and others expressing frustration over their inability to withdraw funds [2][3]. - Despite the platform's collapse, some individuals continued to invest, demonstrating a willingness to engage in what has been termed a "fool's game" [4][11]. - The platform's operations ceased after it was reported that the founder had fled abroad, leaving investors without recourse [4][8]. Group 3: Regulatory and Legal Context - Multiple law enforcement agencies across various provinces have issued warnings about the risks associated with "DGCX Xin Kang Jia," highlighting its fraudulent nature and lack of regulatory approval [5][9]. - The operating entity, Guizhou Xin Kang Jia Big Data Service Co., Ltd., has been listed in abnormal business operations and has applied for deregistration, indicating its imminent closure [8][9]. - Legal experts have classified the platform's activities as illegal fundraising and fraud, emphasizing the need for investors to be cautious and informed about the legitimacy of investment opportunities [9][12].

Core Viewpoint - The article discusses the collapse of DGCX Xin Kang Jia, a financial platform that was involved in a Ponzi scheme, highlighting the fraudulent activities and the significant financial losses incurred by investors [1][2][28]. Group 1: Company Overview - DGCX Xin Kang Jia falsely presented itself as a branch of the Dubai Gold and Commodities Exchange (DGCX) [4][6]. - The platform had a membership base of approximately 2 million individuals [8][33]. - The company was registered in Guizhou, China, and underwent a change in legal representation, with the new owner having no actual capital contribution [10][11]. Group 2: Financial Misconduct - Prior to its collapse, DGCX Xin Kang Jia transferred approximately 1.8 billion USDT (around 12.9 billion RMB) to a shell company in the Cayman Islands within 48 hours [28][30]. - The platform's operations were characterized by deceptive practices, including fake data and manipulated investment returns [16][35]. - The platform's leadership reportedly took high commissions, with up to 50% of the funds being siphoned off, leaving little for actual returns to investors [35]. Group 3: Investor Impact - The collapse of DGCX Xin Kang Jia resulted in significant financial losses for investors, reminiscent of previous financial fraud cases in China [2][21]. - Many investors were drawn in by promises of high returns and were encouraged to recruit others, resembling a multi-level marketing scheme [25][24]. - The article notes that despite warnings and previous incidents of financial fraud, new scams continue to emerge, indicating a persistent vulnerability among investors [37][38].

Core Viewpoint - The DGCX Xin Kang Jia financial pyramid scheme has collapsed, affecting approximately 2 million investors and involving hundreds of billions in funds, with a significant amount of assets transferred offshore just before the collapse [1][15][19]. Group 1: Scheme Overview - DGCX Xin Kang Jia was initially launched as a "China Petroleum" app in May 2023, falsely claiming a partnership with China National Petroleum Corporation and later transitioning to the DGCX trading platform [1]. - The scheme promised high returns of 1%-2% daily and over 300% annually, attracting investors with misleading claims about its legitimacy [2][19]. - The platform operated as a centralized trading venue without any legitimate qualifications, manipulating market data behind the scenes [8][19]. Group 2: Operational Structure - The scheme utilized a "militarized" pyramid structure, dividing the country into four major "battle zones" and incentivizing participants to recruit others through commissions and rewards [10][19]. - Participants were required to pay a minimum entry fee of 1,000 USDT, with funds directly controlled by the platform [9][19]. - The internal reward system included various levels of compensation based on recruitment, with significant bonuses for higher ranks [12][19]. Group 3: Investor Impact - Approximately 2 million victims, primarily from lower-tier cities and older demographics, are estimated to have lost hundreds of billions, with 18 billion USDT transferred offshore [15][18]. - Despite multiple official warnings about the scheme's illegitimacy, investor enthusiasm surged, leading to a 217% increase in new registrations within three months of the alerts [16][19]. Group 4: Trends in Financial Fraud - The DGCX Xin Kang Jia case highlights new trends in virtual currency scams, including a combination of Ponzi schemes and pyramid structures, high-return promises, and the use of virtual currencies for transactions [19][20]. - The scheme's operations were characterized by a closed, familiar network approach, making it easier to recruit new participants [21]. - The targeting of small towns and older individuals reflects a growing trend in scams, as these groups often lack information and are more susceptible to influence [22].

Group 1 - The platform "Youli Li" is being questioned for its legitimacy, with allegations of being a scam involving potentially over a billion in funds [2] - The promotional offer of "register and receive $10,000" is misleading, as the money is not real but a form of their own currency called TK coins, which requires recruitment or investment to convert into cash [4] - Claims of guaranteed returns, such as investing $300 to $20,000 for a 10% profit in 14 days, are deemed unrealistic and indicative of a Ponzi scheme due to lack of transparency and third-party oversight [4] Group 2 - The platform's advertising claims, including being featured on CCTV, are found to be exaggerated, with ads aired at odd hours and lacking credibility [6] - The company promotes its TK coins as a lucrative investment opportunity, but it lacks financial licenses and regulatory oversight, raising red flags about its operations [8] - The business model resembles traditional high-return investment scams, emphasizing the need for potential investors to verify company credentials and regulatory compliance before engaging [8]

点击上图▲立即收听 " 这 些爆雷企业所在的产业共性是：野蛮生长，快速迭代，做局自毁，但又生生不息。 " 文 / 巴九灵（微信公众号：吴晓波频道） 在江浙沪拥有 23 家黄金门店、 11 家珠宝门店的永坤黄金 " 十年磨一骗 " ，打着 " 年化 9% 保本保收益 " 的金字招牌，在 5 月被发现无法兑 付，涉案人数多达 1 万人，涉案金额高达 40 亿元。 网络上， " 拿什么还我全家族近十年两千万 "" 一百多万血本无归 " 的帖子接连涌现， 62 岁的陈阿姨就是其中一位受害者。 十年前，她在家附近的门店买过金饰， " 服务好、门店多、看起来很正规 " 。后来她又听朋友说，永坤有黄金委托保管业务，年化收益 5% — 9% ，还承诺 " 保底回购、价格下跌补差额并赔违约金 " 。 这种 " 有钱自己赚，风险别人担 " 的好事让陈阿姨有些怀疑，但一打听，发现身边不少人都在买， " 存银行利息太低了，股票又风险太大，我觉 得永坤黄金这么多年一直在营业，线下还有那么多店，应该靠谱 " 。 于是，陈阿姨先是投了十万，这些年又慢慢加码，三年前家里拆迁，政府赔了一笔钱，她咬咬牙，把这笔 " 养老钱 " 也投了进去。 直 ...

Core Insights - The article narrates the rise and fall of Yang Zhuoshu, a once-prominent real estate mogul in China, who was involved in a massive financial fraud that led to his imprisonment for nine years [1][30][32] Group 1: Background and Rise - Yang Zhuoshu was born in 1952 in Heilongjiang and faced early life challenges, including social isolation due to his father's political issues [5] - He transitioned from a struggling student to a successful journalist, eventually becoming the editor-in-chief at a newspaper after publishing over 5 million words [7] - In 1993, he left journalism to enter the real estate market during a downturn, believing that crises present opportunities [9] Group 2: Business Expansion - Yang started his real estate journey by acquiring development rights for 30 acres of land with borrowed funds, which marked a turning point in his career [11] - He launched a successful marketing campaign for a housing project, pricing it significantly lower than the market rate, which attracted substantial investment [13][15] - His company, Zhuoda Group, expanded rapidly across various regions, and by 2001, he was listed as one of China's wealthiest individuals with a net worth of 2.1 billion [17] Group 3: Decline and Fraud - Yang's ambition led him to undertake large-scale projects that often remained unfulfilled, such as a 600 billion investment in a tourism project [19] - He began to engage in risky financial practices, including packaging real estate projects as investment products promising high returns, which attracted around 400,000 investors, many of whom were local elderly individuals [23] - In 2019, as financial troubles escalated, Yang surrendered to authorities, revealing the fraudulent nature of his operations, which were based on unsustainable promises and fabricated contracts [27][29] Group 4: Legal Consequences - In 2022, Yang was sentenced to nine years in prison for illegal fundraising, leaving behind a legacy of financial ruin for countless investors [30] - The article concludes with a reflection on the dangers of high-yield investment schemes and the lessons learned from Yang's downfall, emphasizing the risks of unrealistic financial promises [34]