Chinese Watchdog found 421 Scams in Cryptocurrencies

Digital assets space has envolved huge media coverage with reports, focused on the scams: investors are fleeced with the bait of returns or a fraudulent scheme
22 May 2018   435

The National Internet Financial Risk Analysis Technology Platform (IFCERT) published a statement on May 18, 2018 in order to educate its citizens on common cryptocurrency scams, defining the space’s common scams. During the investigations, the IFCERT’s revealed a common of 421 cryptocurrencies, all displaying attributes of a fraudulent business model. Nevertheless, the watchdog affirms that most of the trading platforms are hosted on overseas servers, making it difficult to track their exact location. The fraud platforms, in the whole, were parted  into broad divisions.

Promoters of Pyramid Scheme Cryptocurrencies provide a bogus guarantee of significant yields and claim to offer handsome commissions to investors who can further bring in more investors. As demonstrated below, the top-tier members make the most profits, with the incentives decreasing as one trickles down the pyramid. In terms of benefits, investors are offered both a  “dynamic (rewards in proportion to money invested)” and “static (fixed)” incentives.

For fraudulent ‘Hard Forks’, the IFCERT has marked an absence of “genuine code,” apart from the total lack of a technical framework to successfully run a blockchain. Nevertheless, promoters deceive naive investors, and promise guarantee returns on the guise of a ‘hard fork’, that would force the coin’s value, and “never fall.”

IFCERT also claimed that the cryptocurrencies issued by OTC-Only Platforms are extremely phony, and not tradable on any cryptocurrency-exchange apart from their own. These determined coins are allegedly controlled by institutional investors, who manipulate the digital asset’s price by purchasing large amounts in quick succession, thereby causing a “pump,” and deceiving investors who can mistake it as a real store-of-value. to Open Office at Malta

Country made another step froward to leadership in blockchain industry
16 August 2018   125

Fifth in terms of the daily trading volumee exchange announced plans to open a representative office in Malta. This is reported by CCN.

Secretary of the Malta Parliament for Digital Innovation and Finance Silvio Schembri said that the opening of will be another step in the country's leadership in the blockchain industry.

At first, the Maltese branch of will offer customers only cryptocurrency exchange, and subsequently also plans to add support for the currency. will be the third exchange in Malta, following the offices of Binance and Bitbay, which offers the exchange of digital currencies for fiat money.

Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon.

Jimmy Zhao


Zhao said that he was invited to Malta by his business partners and met with government officials to discuss the possibility of opening a representative office.

According to CoinMarketCap, the volume of deals on for the last 24 hours was areoud $ 267M. The most popular trading pairs on the platform are BTC / USDT, Dash / USDT, Qtum / USDT and ETH / USDT.