Core Points - The article discusses the fallout from the collapse of Yongkun Gold, highlighting significant financial losses for investors and the ongoing investigation by local authorities [2][3][5]. Group 1: Company Overview - Yongkun Gold is a brand under Yongkun Group, with Yongkun Holdings being its core holding company [5]. - The company operated both online and offline channels for gold sales, promising high returns and a "no-loss" investment model [6]. Group 2: Investor Impact - Investors reported total losses estimated at around 4 billion yuan, with some individuals losing over 1 million yuan [2][3]. - Many investors, like Ah Xuan, expressed feelings of helplessness and financial distress due to their inability to withdraw or refund their investments [2][4]. Group 3: Legal and Regulatory Actions - The Hangzhou Public Security Bureau has initiated investigations into Yongkun Holdings and Yongkun E-commerce for suspected illegal public deposit absorption [3]. - The company has been listed in the abnormal business operations directory due to its inability to be contacted at its registered address [5]. Group 4: Insurance and Risk Management - Yongkun Gold provided insurance policies for the gold investments, but many investors found that the insurance companies did not recognize the validity of these policies after the collapse [8][12]. - Concerns were raised about the authenticity of the gold and the insurance coverage, with investors questioning whether the insurance companies colluded with Yongkun [11][12]. Group 5: Market Perception and Trust - The long-standing history and various accolades of Yongkun Gold contributed to investor trust, leading them to believe in the safety of their investments [6]. - The use of credit cards and lending platforms for purchasing gold further complicated the financial situation for many investors, as they now face mounting debts [6][8].