Shanxi Provincial Anti-Illegal Fund-raising Office reminds: Beware of illegal fundraising disguised as "blockchain"

As reported by Taiyuan Daily, in recent years, "blockchain" has become popular, and some illegal activities seem to be making a comeback. Some illegal elements issue so-called "virtual currencies", "virtual assets" and "digital assets" under the guise of "blockchain" and "financial innovation" to raise funds, infringing on the legitimate rights and interests of the public.

On June 3, the leading group of Shanxi Province for the disposal of illegal fund-raising issued a reminder that such activities are not really based on "blockchain" technology, but are illegal fund-raising, pyramid schemes, and fraud under the guise of hype. Consumers should enhance their risk awareness, not participate in hype activities, and beware of personal property and rights being damaged.

The non-office of the provincial disposal group introduced that such activities use "financial innovation" as a gimmick, but in essence, they are "robbing Peter to pay Paul" Ponzi schemes, and the operation of funds is difficult to maintain in the long run. The public should have a rational view of "blockchain", not blindly believe in flashy promises, and effectively improve their risk prevention awareness to avoid being deceived.