"Cloud mining", App "cutting leeks" have routines

With the rise of virtual currencies such as Bitcoin and Ethereum, various categories of "digital currencies" have emerged.

Recently, some apps that claim to be available for mobile phone "mining" have also emerged.

Under the banner of "cloud mining", these apps induce investors to inject funds through false transactions with the publicity of "low investment and high return" and "average daily return of 5%", and continue to "circle money" through the model of user invitation, and when a large amount of funds are gathered, the time is ripe to roll up and leave.

5% average daily earnings?

Wang Ran (pseudonym), a recent college graduate, is an electronic "enthusiast." In April last year, a public account called "Qiumingshan Graphics Card Group" pushed him a tweet, claiming that by downloading an app called "Rui X Mining Reserve", he could make money by renting a graphics card "cloud mining", and the daily income was 5%.

Because Wang Ran has long purchased a graphics card on the official account, and every time he trades normally, he downloaded the App with the trust of the official account. On the main interface of the App, the market value and price of digital currencies such as Bitcoin and Ethereum are jumped in real time, and the business market covers more than 80 countries around the world is marked on the scrolling page, and the company's insurance filing registration is posted. Wang Ran feels that all kinds of qualifications are complete and very reliable, and he plans to "test the waters".

At first, Wang Ran recharged 500 yuan, and after 24 hours, he could withdraw 520 yuan. After several consecutive days of earnings, Wang Ran gradually trusted the app. App homepage introduction, there are different VIP levels, the more money charged, the higher the level, the higher the daily income. Wang Ran began to recharge a large amount, 1000, 5000, 10000... In the first month, each recharge of money can be withdrawn with profit.

Moreover, this "Rui X Mining Storage" App provides a "promotion reward" service, and each promotion to a friend can get an additional commission of one point. Wang Ran recommended this app to friends around him, when the friend registered an account to invest funds, the rebate interest rate of Wang Ran's account balance was indeed one point higher.

But what Wang Ran did not expect was that it was not long before he found that the account suddenly began to limit the withdrawal limit. The amount that can be withdrawn per day is limited to 2,000 yuan, and the withdrawal cycle has changed from the first 24 hours to 15 days. When Wang Ran asked the customer service, the customer service did not respond. On June 10 last year, the software could not be opened normally, and the deposit of more than 40,000 yuan in Wang Ran's account was wiped out.

A swindle of money with high yields

The investigation by the reporter found that there are many Apps on the market under the banner of "mining", which "cut leeks" by inducing consumption. Such apps usually cannot be downloaded in regular software stores, but are induced to download by advertising on overseas websites and scanning two-dimensional codes.

In addition to the "mining machine" app, there are also some "pet mining" and "walking mining" software that attracts a large number of investors to enter. The reporter downloaded an App called "X Step" through search, and was reminded that real-name authentication was required and cost 1 yuan for authentication as soon as he entered the client. After the certification is completed, you can receive a "Novice Experience Scroll", after which you only need to walk more than 5000 steps per day to receive "Candy" coins through the "Reel", and 15 "Candy" Coins can be obtained by walking more than 5000 steps in a total of 45 days, and each "Candy" Coin fluctuates with the "Candy Market" in the price range from 18 to 30 yuan. To earn more "candy" coins, users need to spend money to upgrade the "reels". If the number of steps is not enough for a certain day in 45 days, you also need to purchase "candy" coins to make up for the day's walking task. Under the name of "Blockchain + Sports", this app attracts a large number of users to register with the slogan of "sports for fun". Another app, called "X Cai Farm", claims to exchange gold coins by breeding various pets, and only need to log in every day to click to collect the income, you can become a "farm tycoon".

The reporter learned that most "cloud mining" apps have pre-designed a set of reward systems and created a currency, and then put some worthless virtual numbers into it to lure users to recharge money step by step. Such apps often have nothing to do with the blockchain and are typical of "hanging sheep's heads and selling dog meat". Most of the users who download the App are some college students and middle-aged and elderly people, who have plenty of time, and have a small amount of money on hand, and have the need to earn high income in a short period of time, and they cannot withstand the temptation, so they are trapped by the funds step by step.

Behind the "cloud mining" app, there are often some shell companies operating. They rely on the industry's common technical solutions to complete the "white paper", and spend several months debugging code, creating various new forms of "air coins", placing servers abroad, and attracting external investors through overseas websites, circles of friends, and search platforms. In the early stage of the project, setting high yields allows some initial players to taste the sweetness, and promotes on social platforms through the promotion model to attract more users to participate. When the capital disk reaches a certain amount, it increases the value of the virtual currency, and the platform maintenance is carried out every three to five minutes, and the virtual currency cannot be cashed, and finally runs offline.

Don't eat big losses because of greed

In recent years, as blockchain technology has gained attention, telecom network fraud with emerging concepts such as "cloud mining" and "virtual currency" as a gimmick is overwhelming. Such telecommunications network fraud methods are constantly renovated and technical means upgraded, showing the characteristics of long cycle, synchronous development of online and offline, and cross-border cross-platform implementation.

In September last year, ten departments, including the Chinese Bank, issued the Notice on Further Preventing and Handling the Risk of Speculation in Virtual Currency Transactions. The circular clarifies that virtual currency exchange, buying and selling virtual currency as a central counterparty, providing matchmaking services for virtual currency transactions, token issuance and financing, and trading virtual currency derivatives are all illegal financial activities, which are strictly prohibited and resolutely banned in accordance with law; overseas virtual currency exchanges providing services to residents in China through the Internet are also illegal financial activities.

Huang Zhen, director of the Institute of Financial Law of the Central University of Finance and Economics, said that whether it is through "mining" or other forms of "mining" Apps, as long as there is a so-called incentive mechanism in the form of tokens or points, and the way to monetize transactions through currency or finance is illegal fundraising or financial fraud, it also constitutes a crime.

Be vigilant against the various token-related financial activities that appear in the market. Many industry insiders said that for the "cloud mining" App, do not be greedy for small profits and eat big losses. Virtual "mining" products that can be rewarded by "walking" and "keeping pets" should not be trusted.

Source: Half Moon Talk