The virtual money investment platform "Xinkangjia" has exploded, with the amount involved possibly reaching 13 billion yuan.

Recently, an investment and wealth management platform called "DGCX鑫慷嘉" has sparked heated discussions. It is reported that the platform has approximately 2 million investors involved, with an amount involved reaching up to 13 billion yuan. After the funds on the platform could not be withdrawn, there are reports that the company's founder has left China.

From a business model perspective, Xinkangjia attracts consumers under the guise of Virtual Money investment, utilizing high returns. The platform claims a daily return rate of 1% and develops downlines by setting high rewards, establishing profit-sharing ratios based on the number of downline members. Even when the platform can no longer fulfill its obligations, there are still users joining.

The Temptation of High Returns and Inability to Cash Out

Multiple investors reported that according to the promotion, investors can participate in overseas gold and crude oil investments through the platform, with a daily return of 1% on the principal. However, the invested funds could not be withdrawn within a month. Around June 25, the platform experienced issues with withdrawals, and the next day it was confirmed that the system was down.

The platform claims that the company has been classified by regulatory authorities as tax evasion, resulting in all account funds being frozen and making it impossible to withdraw. Subsequently, the platform requires users to pay "taxes" amounting to 10% of their holdings in order to withdraw, with withdrawal fees as high as 50%.

Risk Reminder from Police in Multiple Regions

On July 7, the Public Security Bureau of Taojiang County, Hunan Province issued a risk warning, stating that the platform is using the name of the Dubai Gold and Commodity Exchange (DGCX) to attract funds, falsely claiming to be the Chinese branch of the DGCX exchange without authorization and relevant qualifications. This behavior is suspected of fundraising fraud.

In fact, as early as October 2024, regulatory authorities in multiple regions such as Sichuan, Guangdong, Jiangxi, and Hunan have issued risk warnings regarding Xinkangjia, all pointing out that it conducts a Ponzi scheme through a pyramid scheme structure.

The operating entity company has been deregistered

Tianyancha data shows that the operating entity Xin Kang Jia, Guizhou Xin Kang Jia Big Data Service Co., Ltd. was established in April 2024. The company has been listed in the abnormal business directory multiple times due to "unable to contact through the registered address or business premises." On May 18, the company applied for deregistration to the registration authority due to "resolution to dissolve."

Expert Opinion: Typical Illegal Fundraising and Fraudulent Activities

Jia Ning, a director of the Hong Kong Registered Digital Asset Analyst Association, believes that this is a typical case of illegal fundraising and fraud. The criminals have embedded traditional illegal fundraising structures into the circulation mechanism of stablecoins such as USDT, using USDT as the unit for deposits, bypassing the regulatory channels for RMB, and then quickly fleeing overseas to avoid the existing financial system's monitoring of large cross-border fund transfers.

Risk Warning

Legal experts remind that some participants are aware of the high risks of the platform but still actively engage in "recruiting" and "earning commissions", which may turn them from "victims" to "accomplices". Even if they are not the "core personnel" of the organization, as long as they actively participate and reach a certain scale, they may also constitute "joint crime".

Experts suggest that investors should clarify the destination of funds, the purpose of investment, the regulatory entity, and the party responsible before investing. For "investment opportunities" with unclear compliance, do not blindly trust the so-called "early entry, early profit."