Bitcoin skyrocketing or triggering a surge in virtual currency crime? The "three axes" that reveal such scams
Bitcoin price breaks through $30,000!
Ethereum price breaks through $1000! !
I believe that recently, even if you didn't care about virtual currency before, you will be bombarded with similar information.
Yes, since October last year, the virtual currency represented by Bitcoin has set off a wave of market, and has become the focus of global public opinion with its huge wealth effect, and has attracted more people to pay attention to this field.
But at this time, when more people seem to understand some vague concepts about virtual currency, and they still can’t figure out the difference between Bitcoin and the digital currency issued by the central bank, criminals may also take advantage of it. machine. They use the so-called "block chain" and "digital currency" concepts to fool the public into related scams and suffer economic losses.
In order to prevent friends from "not flashing" in the face of a new round of virtual currency crimes that is likely to come, here we summarize some essential features of current virtual currency economic cases to prevent you from being deceived.
It is clear from the beginning that although virtual currency-related cases have often evolved, a trend in the past two years is: exchange your USDT with air coins!
What's the meaning? Let's talk about it next.
1. What is USDT and why it has become the core of current virtual currency crimes.
In fact, let's first look at what is the purpose of traditional economic crimes? Isn't it just using various high-yield scams (frauds) or insoles (pyramid schemes) to defraud us of the RMB in our hands? Why? Because the RMB is a valuable currency endorsed by the government.
In the same way, in the field of virtual currency, although there are various currencies, the value is recognized, the liquidity is good, and there are not many that are easy to exchange. The previous representatives are Bitcoin and Ethereum. Many scams are packaged in various A project that allows you to "invest" with Ethereum and Bitcoin.
However, there is a characteristic of Ethereum and Bitcoin, that is, the price changes greatly
Both the participants and the organizers of the so-called "projects" hope to have a virtual currency with a relatively stable price, which is also the expectation of the entire mainstream virtual currency investors and users.
As a result, a virtual currency called "stable currency" was born. It is anchored 1:1 with the US dollar and other legal currencies, so the price is more stable than the legal currency, which meets the general needs of this field. In the field of stablecoins, the current largest circulation and the most widely recognized is the stablecoin issued by TEDA Company that is pegged 1:1 with the US dollar: USDT, which we often call "Tedacoin" in China.
As of press time, the size of USDT has exceeded 22.8 billion US dollars, ranking third in the global virtual currency market value list, and this number is still increasing.
Regarding the principle, mechanism and controversy of USDT, we will introduce it in a follow-up article. Here we only need to know that it has already played the role of "digital dollar" functionally, and has become the benchmark for other virtual currencies measured by mainstream exchanges in the world.
Therefore, in the virtual currency world, USDT has played a recognized role as "cash" with a stable price. It can be easily converted into local legal currency on major exchanges or over-the-counter trading channels around the world. Naturally, it is also available in China. It can be easily converted into RMB.
Now we should be able to understand that USDT is equivalent to a "digital dollar" that can be cashed at any time, and its value is recognized. Therefore, for the economic crimes of virtual currency, the purpose is naturally to fabricate various "projects" to get you into the game, so that you will willingly hand over the USDT in your hand.
What do they usually do?
2. Common practices in virtual currency pyramid schemes/fraud cases
Before starting this part, let’s answer a question that may arise in your mind. Why don’t they cheat RMB directly, and also cheat USDT around a detour, and then go to cash it out?
The reason is simple, because if their scam is directly based on USDT deposits, then the whole process is carried out on the blockchain network, making full use of the anonymity of the virtual currency system from traditional financial supervision, which is naturally more hidden.
The USDT-based transfer is shown in the figure. Obviously, for criminals, this is more convenient for criminals to hide funds and identities than leaving a large number of transfer information of real-name bank accounts.
After explaining the motivation, let's look at the operation method. Let's go straight to the essence. In fact, it's just three tricks.
1. Construct the "project"
It is to create a variety of so-called "wealth opportunities" that can make you rich. These projects come in various forms, but in essence they are superpositions of high-yield temptations and head-pulling levels. Externally, virtual currency projects are generally constructed, and a kind of even Several so-called virtual currencies raise the price and allow you to "invest" with USDT. This kind of virtual currency is like air because of the lack of value foundation. We usually call it "air currency".
For example, "mobile phone mining" purchases virtual mobile phones through USDT to generate air coins for the project.
For example, "Pledge Coin" pledges USDT into the platform App to generate air coins.
For example, "computing power mining" generates computing power through USDT mortgage, and then generates air coins.
For example, "brick arbitrage" lures you into USDT with the so-called interest rate difference between different platforms.
Wait, wait, there are all kinds of tricks, and the essence is to let you charge USDT into their platform.
2. Exchange "project" for your USDT
After the project is built, there will be various promotions, both online and offline. What needs special attention here is that don’t think that virtual currency scams are only aimed at young people. Currently, such activities are developing in third- and fourth-tier cities , and participants of all ages.
This kind of promotion is therefore "out of the circle", and the main participants are no longer even the so-called "currency circle" participants with experience in virtual currency investment, but the public who have little knowledge of virtual currency, Bitcoin and USDT before.
However, attracted by the wealth effect and induced by the project party, they still quickly learned how to use RMB to buy USDT on the exchange and recharge it into each platform and project.
It is during this process that the participants have dreams of wealth, but they willingly hand over the more valuable "U" in their hands to criminals in exchange for a large number of worthless air coins.
3. Get away
This is almost the end of all virtual currency scams. No matter what method is used, when the criminals get more and more USDT from the participants, reaching tens of millions, even hundreds of millions, or billions, they are done. its accumulation of funds.
Next, regardless of whether the project party intends to do it, or the project’s drumming game cannot continue, there will be a "run away" drama. Of course, the forms and excuses are also varied.
For example, no longer pull the market, let the price of air coins plummet or even return to zero, because "market reasons" make the coins in the hands of participants worthless.
For example, claiming to be hacked, we also suffered a lot of losses, and we can only express our deep regret for the losses of investors.
For example, the announcement system maintenance, temporarily unable to withdraw coins, but maintained until there is no return date.
For example, issuing new projects, exchanging new coins for old coins, and using dizzying gameplay to make your "assets" shrink unconsciously.
Even, without reason, one day suddenly, you will find that the webpage of the platform you are using cannot be opened, the app cannot connect to the server, the recharged USDT cannot be withdrawn, and the investment WeChat group you participated in can no longer contact the administrator up.
In short, after these three tricks, your USDT will be washed away by the project party with air coins, leaving behind your fear and regret. . .
Let’s sum it up, no matter what tricks the criminals use, the essence is the same. Use the worthless air coins in exchange for the USDT in your hands that has recognized value in the industry. So, how can we guard against this kind of deception whose principle is very simple in essence? How should you react if you are unfortunate enough to be scammed?
3. How to deal with virtual currency scams?
First of all, of course, it is still the same "nonsense": don't be greedy, there will be no pie in the sky, although there are always people and things that speculate and profit, but it is a small probability event, and criminals take advantage of people's selective belief that they can The psychological misunderstanding of being hit by the chance of getting rich with a small probability to lure people into being deceived.
What's more, emerging concepts such as virtual currency, blockchain, and USDT are naturally confusing, and criminals deliberately confuse it with the blockchain technology advocated by the state and the digital renminbi issued by the central bank, making it even more deceptive.
Therefore, in the face of such so-called "projects" with the concept of virtual currency, please be sure to keep your eyes open. National laws and regulations have explicitly prohibited individuals from "issuing currency". It can be said that all such projects are illegal, and most of them are absolute scams. .
Secondly, if you just can't bear to "gamble for fun", please be sure to attach great importance to risks, and don't give up all your wealth, let alone pull relatives and friends into the group, become an accomplice of pyramid schemes, or even step by step Get bogged down and become part of the outlaws.
Third, for such projects, pay attention to keeping records of daily transaction recharge as much as possible. Usually when we invest in formal financial products, we will ask for a contract and pay attention to leave a receipt. However, in virtual currency projects, many people don’t care about these, until one day the app they use can’t log in, and any transaction records can no longer be retrieved. , lost the opportunity to possibly recover the asset.
Therefore, for such so-called projects that allow you to recharge USDT, please pay special attention to record the virtual currency address that the platform recharges you, or the transaction ID number of the relevant recharge, so that there is a basis for tracing when there is a problem.
Fourth, if you find that the project you participate in suddenly appears abnormal, such as the inability to withdraw coins, the website and the app cannot be opened, etc., please do not have illusions, immediately save the remaining evidence as much as possible, and call the police.
In many cases, the project party has already run away, and the participants still have illusions, thinking that it is really just system maintenance and hacker attacks, and that the project party will be responsible for themselves, which wastes the time window to recover the loss.
Here again, if such a situation occurs, please take legal action immediately. At the same time, you can hand over the USDT recharge address or transaction records to our professional organization such as Beijing Lianan to trace the asset flow on the chain, discover asset flow trends in time, and assist the public security Organs crack down on criminals and recover economic losses.
Finally, when the prices of virtual currencies such as Bitcoin and Ethereum are skyrocketing, please keep a calm mind and refrain from participating in the Air Coin project rashly with the mentality of "missing Bitcoin, you can't miss XX coins anymore". After all, what you are thinking about is several times or hundreds of times of income, and the criminals are looking at the principal of USDT in your hand!
If you are participating in such a project, or have encountered a project running away, or a judicial authority is handling a virtual currency case, please submit the relevant project overview and recharge address to us, and we will trace the funds with professional technical means Flow direction, to recover the victim's loss as much as possible.
