"Xiyu.com" virtual currency investment scam exposed

"Xiyu.com" virtual currency investment scam exposed

-----More than 100 people in Shawan lost their dreams of K-coin "wealth myth"

     Metropolis Daily News: On October 29, a reporter from Xinjiang Metropolis Daily learned from Shawan County police that a virtual currency transaction fraud case occurred in Shawan County recently, and more than 100 people were deceived and defrauded of more than 1.3 million yuan.

The money accumulated over the years was continuously invested in a website called Xiyu.com, which was then converted into so-called virtual currency (K coin) and then used to trade virtual currency for investment income. Investing 10,000 yuan to buy K coin can earn 0.1% per day; for every person who is introduced to recharge 10,000 yuan, an additional 500 yuan reward can be obtained... If the website had not been shut down suddenly, perhaps these investors in Shawan would still be dreaming of getting rich.

In June this year, Zhang Wei (pseudonym), a resident of Shawan County, was introduced by a friend to invest in virtual currency on a website called Xiyu.com. The promises at the time were very tempting. He said that if he invested 10,000 yuan, he could benefit 10 yuan a day. If he introduced a friend, he could get a 500 yuan reward. The investment period ranged from 10 days to one year.

So, Zhang Wei tried to invest 1,000 yuan under the introduction of a friend. Ten days later, he got back the money with interest. After the first trial, Zhang Wei was still a little worried, so he tried to invest 5,000 yuan. Ten days later, the principal and interest were also returned to him smoothly. With the experience of the previous two virtual currency investments, Zhang Wei became bolder and invested all his 100,000 yuan savings in virtual currency transactions. This time, Zhang Wei chose a long-term benefit of one year.

Then, Zhang Wei began to introduce his friends to join the virtual currency trading. Zhang Wei used his own trading experience to let many of his friends see this "wealth myth". Friends introduced Zhang Wei, Zhang Wei introduced friends, and friends introduced friends. In this way, more than a hundred people in Shawan County joined this "gold rush" and there is a trend of gradual expansion. When these people were still dreaming of getting rich, one day at the end of September this year, Zhang Wei and his friends found that the website was quietly closed, and they didn't know where the money they invested went.

Some investors reported the disappearance of tens of thousands or even hundreds of thousands of yuan, so they called the police.

It is reported that in recent days, Shawan County Public Security Bureau has received many reports from the public, saying that they were defrauded in virtual currency transactions on "Xiyu.com". Due to the high amount of money invested by the victims, the large losses and the large number of people, the Economic Investigation Brigade of the Bureau immediately opened a case for investigation. After investigation, it was found that more than 100 people in Shawan County alone were defrauded in virtual K-coin investment transactions on "Xiyu.com".

According to the police, investment in virtual currencies such as Bitcoin, Darkcoin, and Xiyu K-coin is currently popular online. Some criminals take advantage of the country's vigorous promotion of online financial platforms, using high returns, high efficiency, timely interest payments, and gorgeous investment prospects as bait, and through false propaganda, set traps layer by layer to make people fall into investment traps. Once the capital chain is broken or the fictitious investment scam is exposed, virtual currencies will be worthless and the risk is extremely high.

It is understood that the website scam was first exposed on September 21, 2015, when the Xiyu.com trading platform website could not be opened. The official cover-up claimed that it was hacked and recommended investors to log in to a new website to continue investment and trading. On September 27, the website could no longer be displayed when opened, and the server provider prompted that the website had been closed. Some investors directly found the Shenzhen company where the website was located, but found that the company's door was closed and no one had left. As a result, some people called the police one after another.

After investigation, it was found that the people who were deceived were all over the country, and the amount of fraud was huge. As of now, the website is still closed. If anyone has similar experience of being deceived, please report to the local public security agency as soon as possible to avoid unnecessary property losses.