What exactly happened between JuBi.com, Shark Coin, and Mr. Huang?

Event Review

On September 22, Yangcheng Evening News reported that Mr. Huang, who lives in Nancheng, Dongguan, encountered a situation where his funds were withheld by the trading platform for online virtual currency transactions. According to reports, the specific process of the incident was: a year ago, Mr. Huang obtained a lot of virtual currency by mining on his computer and purchasing it on the trading platform. After the small wave of market this year, the market value of 370,000鲨鱼币in his electronic wallet has reached nearly 1.4 million yuan, so he transferred them to the trading platform聚币网for sale. After all the sales were exchanged for more than 1 million yuan, Mr. Huang then applied to the platform for withdrawal.

Because Jubi.com limits the maximum withdrawal amount to 50,000 yuan per transaction, Mr. Huang divided the money into more than 20 withdrawals. After the first three withdrawals were received as scheduled within 24 hours, the remaining money disappeared.

According to Mr. Huang, when he called Jubi.com customer service, they first said that "the finance department was not there", then delayed the call with various reasons, and finally stopped answering the call. Mr. Huang suspected that the trading platform恶意克扣his investment income.

Mr. Huang tried to communicate with Zhang Shousong, the person in charge of Jubi.com, many times but to no avail. He was asked to go to Beijing for real-name authentication and received threats from a QQ user named "Wuliang". Jubi asked Mr. Huang to submit real-name authentication information and then asked him to bring the information to Beijing for verification.

Continuous fermentation

After the report was released, it caused an uproar. Jubi.com issued an announcement on the afternoon 9月22日, "Explanation of relevant media reports on Jubi", which mentioned that the release of online news releases was恶意“曝光” of Jubi, and that Mr. Huang's Shark Coin was obtained through诈骗手段. After receiving complaints from deceived users, Jubi conducted corresponding investigations and temporarily froze user assets.

9月23日晚, Mr. Huang took the initiative to post on the Babbitt forum, "I am Mr. Huang who was defrauded of more than 900,000 yuan by Jubi.com, and I have something to say" to share his personal experience, and uploaded a large number of QQ chat screenshots with Zhang Shousong and "Wuliang" of Jubi.com to prove that his remarks in the interview with Yangwan were true.

Babbitt reporter contacted Zhang Yang, the head of the marketing department of the Bitcoin exchange, and raised some questions based on the JuBi announcement and the content of the post published by Mr. Huang 9月24日中午, JuBi issued a supplementary announcement describing some details of what happened.

The full announcement is as follows:

As a virtual currency trading platform that has been operating for nearly two years, Jubi.com has been focusing on providing safe trading services for virtual currency users. It attaches great importance to every penny of users' assets and will never infringe on users' assets. In Jubi.com's emergency response to the media on the 22nd, the details were few, so here we disclose more details to everyone.

Initially, Jubi.com received a lawyer's letter from the law firm "Wuliang" of the Shark Coin community. The lawyer's letter stated that a large amount of Shark Coins were defrauded 2014年进行POC与鲨鱼币兑换时, and that the corresponding wallet address coins were monitored and used on the same day, so they immediately requested assistance in checking whether the transfer address was聚币网的充值地址. Before that, "Wuliang" had always arranged for someone to monitor the address.

After technical verification, it was found that转入地址was indeed黄先生的充值地址, a user of Jubi.com. Therefore, Jubi.com temporarily suspended Mr. Huang's withdrawal. After communicating with Mr. Huang, Mr. Huang admitted that部分币确实来源于POC and were exchanged from Wuliang (this has been shown in the chat records sent by Mr. Huang). Therefore, we determined that the source of Mr. Huang's coins was indeed related to "Wulian" and there was a certain dispute. Therefore, in response to the request in the lawyer's letter sent by "Wulian", we hope that it can prove the legality of the coins. At the same time, "Wulian" also hopes to communicate with Mr. Huang. If it is verified through communication that the coins transferred to the address are indeed the coins defrauded in the POC exchange in 2014, "Wulian" will pursue its responsibility through legal channels in accordance with laws and regulations. During the communication between the two parties, Jubi temporarily froze Mr. Huang's withdrawal, hoping that the two parties can reach an agreed solution. After resolving the dispute, Jubi will immediately process all withdrawals.

Subsequently, Jubi.com has been coordinating the communication between "Wulian" and Mr. Huang, but the communication between the two parties was not pleasant. As a neutral platform, Jubi also hopes to properly handle Mr. Huang's funds, so we also hope that Mr. Huang can provide所有币的来源的证明transferred (Mr. Huang provided screenshots of a small number of coins obtained from mining), but Mr. Huang did not provide the source of the remaining coins and refused to communicate in person.

In fact, we also hope that Mr. Huang will take legal action to resolve the issue, rather than publishing some false reports through the media. In the case of fruitless communication between the two parties, "Wulian" is trying to resolve the issue through litigation. If the two parties cannot reach a consensus, JuBi will ultimately handle the funds based on the court's decision or the public security agency's conclusion of the case.

The previous news on the Internet was very one-sided and even inaccurate. We very much welcome more comprehensive interviews and reports from regular media.

Some netizens suspect that Shark Coin and POC (Public Coin) were同一个开发团队. The Shark Coin development team developed the POC super block coin and then changed it to the pre-mined Shark Coin.

In this regard, Zhang Yang said:

1. As a platform, we are not in a position to comment on the historical issues of Shark Coin and the POC team, nor do we know the specific reasons.

2. We will choose an appropriate time to disclose the lawyer's letter. Our announcement describes how we determined that the user was suspected of defrauding us, and the user himself has admitted that he was involved.

3. The verification issue in Beijing was also explained in the JuBi announcement. As a third party, the platform hopes that the dispute between "Mr. Huang" and "Wulian" can be satisfactorily resolved, and even proposed to reimburse the round-trip air tickets. However, we can only express regret that the two parties failed to reach an agreement on communication.

Turn of events?

The reporter then interviewed a netizen named “无量” and learned that he was比特汇通的王东, a member of鲨鱼币开发团队. The following are Wang Dong's original words:

"Let's correct a concept first. I don't know any Mr. Huang. The lawyer's letter we sent to Jubi.com only involved a suspicious address that was suspected of defrauding us of a large amount of Shark Coin. As far as I remember, the lawyer's letter was sent to Jubi.com in July this year when we monitored the suspicious transfer records of our blacklisted addresses in the blockchain transfer records."

The reporter repeatedly asked how to judge whether there is a suspicion of fraud, and Wang Dong replied:

“We discovered that we were being scammed in May or June last year. At that time, when we were compensating a large number of victims of POC with Shark Coin (SAK), the original POC scam team took advantage of the situation and defrauded us of about 35万多Shark Coins. We黑名单地址监控the exchange addresses suspected of fraud.”

"They pretended to be ordinary POC investors提交了兑换申请骗取. I have solid evidence to prove that the more than 350,000 Shark Coins we are claiming rights to were definitely not obtained by him from mining, but were defrauded from us."

"The other 2 million is just Mr. Huang's one-sided statement. It is hard for us to judge whether he mined it himself or found someone else's wallet to make up the amount, because we invited him to Beijing to verify it in person and promised to reimburse his travel expenses, but he refused. We only claim the rights to the 350,000 Shark Coins that were defrauded from us."

Finally, Wang Dong of BitHub said that司法调查程序has been initiated and the timing of disclosure will depend on the advice of the legal team.

Netizens' opinions

According to current public comments and reports, some netizens believe that:

So far, it can be seen that Jubi was completely used as a tool. In other words, it was used by the people of Shark Coin and its reputation was ruined. However, there is another possibility: Shark Coin was originally a child of Jubi, and POC was not its biological child, so it was abandoned.

But some netizens also said:

JuBi is not right: 1. There is no screenshot of the chat history, which is equivalent to not saying anything; 2. There is no screenshot of the lawyer's letter, which means that there may not be such a thing. Of course, it is possible that Wuliang only contacted them verbally. What does this mean: the two sides are completely in the same group; 3. The most important details of "the coins defrauded in the POC exchange" are not mentioned. How to defraud, how to defraud, and who has the final say... It is just one-sided...

Some netizens provided suggestions to both Mr. Huang and JuBi:

Advice to Mr. Huang:

1. Publish the address where you get Shark Coins, and everyone can check it for themselves. 2. Recharge transactions to JuBi. 3. Screenshots of accounts with successful withdrawals. 4. Screenshots of current accounts.

Suggestions for JuBi:
1. Announce the communication process with Shark Coin. 2. Invite the Shark Coin team to give an explanation.

The reporter has not yet successfully contacted Mr. Huang, and the specific details have not been verified. However, Mr. Huang, Jubi and Shark Coin all claim that they have taken legal action, and it is unknown whether they will meet in court. At the same time, we very much hope that Mr. Huang can take the initiative to contact Babbitt. Babbitt will follow up on the progress of the incident.