Core Insights - The cross-border e-commerce project by Sxianghui is identified as a scam that has defrauded over ten thousand individuals [2] Group 1: Scam Characteristics - The most apparent feature of the scam is the mismatch between the receiving accounts and the platform's main entity, with funds directed to unrelated companies [7] - The scheme promotes recruitment for rebates, resembling a pyramid scheme model [7] Group 2: User Guidance - Users who have invested money are advised to save all evidence, including order screenshots, chat records, and payment receipts, and to file complaints with payment platforms and report to the police [9] - It is emphasized that legitimate businesses do not require upfront capital to earn profits and do not rely on recruitment for income [9] Group 3: Market Behavior - The dynamics of the scheme suggest that early participants profit while later entrants risk becoming "greater fools" as the scheme collapses [10] - There is a psychological tendency among participants to ignore warnings due to the allure of potential profits, leading to regret only after the scheme fails [10]

Core Insights - The article discusses the rise of a deceptive business model targeting elderly individuals in rural areas, particularly through the sale of a so-called "smart shoe" that claims to have health benefits and advanced technology [1][20] - The business model resembles a multi-level marketing scheme, where participants are encouraged to invest in inventory and recruit others, leading to a cycle of financial loss for many [8][23] Group 1: Business Model and Operations - The "smart shoe" brand, referred to as "某力宝," is marketed with claims of advanced technology, including biological electricity and 5G chips, and is sold at prices starting from 398 yuan [1][9] - In a rural town near Hangzhou, over 100 elderly individuals pooled 5 million yuan to open a store selling these shoes, with each investor contributing 30,000 to 40,000 yuan [1][3] - The sales strategy involves a tiered system where participants can become "shareholders" by purchasing varying quantities of shoes, with higher investments yielding greater discounts and profit margins [5][6] Group 2: Market Dynamics - The elderly shoe retail market in China has expanded significantly, surpassing 800 billion yuan in 2023, accounting for approximately 17% of the entire industry [9][10] - Established brands like 足力健 and 舒悦 are also entering the elderly shoe market, indicating a competitive landscape [10] - Unlike traditional shoe retailers that rely on straightforward sales tactics, the "smart shoe" sellers employ complex marketing strategies to convince elderly customers of the product's value [11][12] Group 3: Consumer Behavior and Impact - Many elderly individuals are drawn into this scheme due to fear of illness and death, making them susceptible to marketing tactics that exploit these fears [1][16] - The article highlights personal stories of elderly individuals who invested heavily in the shoes, often influenced by family members or peers, leading to financial distress [17][19] - The marketing approach includes offering free incentives, such as food during promotional events, to create a sense of legitimacy and trust among potential investors [17][18] Group 4: Regulatory and Ethical Concerns - The company behind "某力宝" has changed its name multiple times to evade scrutiny, indicating a lack of accountability and transparency [20][21] - The article raises concerns about the safety of the products being sold, particularly the accompanying electric massage devices, which could pose health risks if misused [15] - The narrative suggests that the elderly participants often do not recognize the scheme as a form of exploitation, viewing their losses as mere entrepreneurial failures rather than a scam [23]

Core Viewpoint - The article discusses the controversial situation surrounding the "DGCX Xin Kang Jia Data" trading platform, highlighting the alleged fraudulent activities and the mysterious figure known as "Mr. Huang" who is believed to be the founder, Huang Xin [2][4][5]. Group 1: Company Background - Xin Kang Jia was established on March 1, 2021, with Huang Xin, Shao Xin Kang, and Wang Yan Jia as shareholders, holding 35%, 35%, and 30% respectively [4]. - Huang Xin has never held a specific management position in Guizhou Xin Kang Jia, raising questions about his role and identity as "Mr. Huang" [5][6]. - The company has been linked to a series of operational irregularities, including being listed in the business anomaly directory due to uncontactable registered addresses [4][17]. Group 2: Operational Model - Xin Kang Jia employed a strategy of leveraging a "state-owned enterprise identity" and utilized digital currency for transactions, which attracted a large number of members quickly [7][10]. - The platform operated on a pyramid scheme model, categorizing members into nine levels with increasing rewards based on the number of recruits [9][10]. - Members were encouraged to recruit others, with the organization divided into "four major battle zones" for promotional activities [8][9]. Group 3: Current Situation - As of June 26, 2023, the platform faced severe operational issues, including withdrawal suspensions, leading to widespread panic among its 1.8 million members and potential financial losses exceeding 10 billion yuan [2][11][17]. - Huang Xin's alleged departure with funds has led to a split among members, with some still believing in the platform's recovery while others seek legal recourse [13][14]. - Regulatory bodies have issued warnings about Xin Kang Jia, labeling it a typical pyramid scheme and indicating that it lacks legal operational status in China [18][19].

Core Viewpoint - The "DGCX Xin Kang Jia Data" trading platform, known as "Xin Kang Jia," is facing severe allegations of financial misconduct, including withdrawal suspensions and platform crashes, leading to a significant loss of trust among its 1.8 million members and over 10 billion yuan involved [1][10]. Company Structure and Operations - Xin Kang Jia operates under the entity "Guizhou Xin Kang Jia Data Service Co., Ltd.," which was established in March 2021 by three individuals, including Huang Xin, who later transferred their shares to Liu Hailiang in April 2024 [2][3]. - The platform's rapid growth is attributed to its promotion of a "state-owned enterprise" identity and the use of digital currency for transactions, employing a "pyramid scheme" model to attract investments through member recruitment [4][5]. Allegations and Legal Issues - The platform has been linked to illegal fundraising activities, with regulatory bodies in various provinces issuing warnings about its operations, labeling it as a typical pyramid scheme [10][11]. - The name "DGCX" in the platform's title falsely implies a connection to the Dubai Gold and Commodities Exchange, which has not authorized any operations in China [9][10]. Current Status and Future Prospects - Following the withdrawal of key shareholders and the announcement of a company dissolution, the platform has been unable to facilitate withdrawals since June 26, 2023, leading to a crisis among its members [10][11]. - Despite the turmoil, some members remain hopeful for a recovery, with plans to potentially shift operations to Hong Kong, where a new company has been registered [7][8].