HomeCoinsBitcoin (BTC)Chinese Authorities Warn About 'Sophisticated' Digital Yuan Scam- Promotes Access to a...

Chinese Authorities Warn About ‘Sophisticated’ Digital Yuan Scam- Promotes Access to a ‘$186M Secret’ Government Fund – Finance Bitcoin News

- Advertisement -


As China keeps paving the way to adopt its central bank digital currency (CBDC), scammers are also actively emerging on the scene. The police in a Chinese province are now warning about a “sophisticated” CBDC-themed scam.

Bogus Platform Is Set to Be Launched in March, Say Scammers

According to a post from the cybercrime unit of the Weifang police force in Shandong Province, a scam named “Central Bank’s International Wallet” is claiming to be a digital yuan wallet platform. The bogus platform seems to have caught almost 500 users as of press time.

The scam operators are advertising that the platform will give members the possibility to access a “secret CBDC promotion fund” worth $186 million.

It should be noted that the Weifang police is quoting a previous report first published by local media outlet Sina on the matter. Scammers claim that the platform’s users could get profits of around $24,800.

Although the wallet is not “live,” scam operators say the platform will be launched in March. However, Weifang police’s cybercrime unit raised concerns because scammers already gathered personal details from the users, such as bank details and real names, through a smartphone app.

The scammers further claim that the collected funds are going to promote the digital yuan usage globally and nationwide. Moreover, scam operators also promised users that they will get 2% of bonuses per deposit.

Chinese Central Bank Keeps Warning on Fake Digital Yuan Investment Opportunities

The People’s Bank of China has been actively warning people of the surge of bogus organizations that claim to be digital yuan promoters. However, the central bank says such schemes turn out to be just Ponzi schemes hidden behind “multi-level marketing strategies.”

Recently, the Beijing municipal government handed out a total of 10 million yuan ($1.55 million) worth of digital yuan to 50,000 people in the city who registered for the lottery giveaway using mobile phone apps. Users were able to spend the CBDC during the Chinese New Year celebrations.

What do you think about the warning issued by the Chinese authorities? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



20201016023142aff i?offer id=10&file id=543&aff id=26183

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
472FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,351FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 57,587.00
ethereum
Ethereum (ETH) $ 1,811.89
tether
Tether (USDT) $ 0.999198
bitcoin-cash
Bitcoin Cash (BCH) $ 517.60
litecoin
Litecoin (LTC) $ 194.67
eos
EOS (EOS) $ 4.29
okb
OKB (OKB) $ 14.74
tezos
Tezos (XTZ) $ 4.74
leo-token
LEO Token (LEO) $ 2.12
cardano
Cardano (ADA) $ 1.20
monero
Monero (XMR) $ 234.05
stellar
Stellar (XLM) $ 0.406457
chainlink
Chainlink (LINK) $ 28.22
huobi-token
Huobi Token (HT) $ 14.51
tron
TRON (TRX) $ 0.064634
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 215.85
neo
NEO (NEO) $ 45.74
iota
IOTA (MIOTA) $ 1.49
nem
NEM (XEM) $ 0.384488
zcash
Zcash (ZEC) $ 151.25
maker
Maker (MKR) $ 2,096.38
paxos-standard
Paxos Standard (PAX) $ 0.998280
ethereum-classic
Ethereum Classic (ETC) $ 12.53
vechain
VeChain (VET) $ 0.091794
true-usd
TrueUSD (TUSD) $ 0.999646
ftx-token
FTX Token (FTT) $ 38.58
kucoin-shares
KuCoin Token (KCS) $ 5.12
waves
Waves (WAVES) $ 12.28