’One year in the cryptocurrency circle is equal to one hundred years in the traditional industry.’ In an unassuming office in Chaoyang District, Beijing, Chen Hong often came out with ‘golden sentences’, constantly stimulating the nerves of the few audience members below.lottery plan and Latest Address
In Chen Hong’s words, this investment relies on blockchain and mobile games, and it is a wealth banquet of tens of millions of yuan. It is also a rare project that can increase investment returns by tens of thousands of times. ‘Invest 66,000 yuan annually to earn 100,000 yuan’ and ‘recruit 30 players to earn 24 million yuan annually’, Chen Hong told every bit of profit to the decimal point to the audience below, thereby building a promising wealth future for investment.
Investigations by the Beijing News revealed that this project named ‘Great Dynasty’ is specifically targeted at the elderly population, with internal documents explicitly stating ‘the target group is elderly people who do not play games, and the model emphasizes the pyramid selling characteristics.’ The investors who ‘joined in’ are often mainly from the elderly population, and they even cannot explain what blockchain is. After the class, they pulled out their wallets. Yi Tie, an anti-pyramid selling activist, analyzed that this is a typical virtual currency plus pyramid selling currency model, using the name of blockchain to apply virtual currency fraud. In reality, it is false virtual currency and false ICO, and its essence is still pyramid selling fraud.
On November 30th, inside an office in Chaoyang District, ‘lecturer’ Chen Hong (pseudonym) was explaining to the investors below the stage how to earn 24 million yuan in one year. The project mainly targets the elderly population and involves pyramid selling models. Photo by Wang Feixiang, a reporter from the Beijing News.
Daily profit return:
Invest 66,000 yuan annually to earn 100,000 yuan
On November 30th, in an office on the 19th floor of the SOHO Modern City in Chaoyang District, Beijing, Chen Hong was explaining to the audience below how to earn 24 million yuan within one year.
Chen Hong said, ‘Only by getting on this fast train of blockchain can you have a chance.’ The five most promising fields of the 21st century are artificial intelligence, blockchain, cloud computing, new energy, and big health, but only blockchain is a low-threshold, high-yield project that ‘everyone can participate in’. ‘Trends do not wait for people, and the project we are doing now is the Great Dynasty game platform, which is a new product that combines blockchain technology with mobile games simultaneously.’
According to Chen Hong’s introduction, this project, which boasts dual genes of ‘blockchain’ and ‘internet mobile games’, only requires an investment of 660 yuan to recharge coins, and the platform will return interest every day according to the total number of coins in the account.online casino and The latest website
He pointed to some advertisements for mobile game products displayed next to him and told the journalist that these games were developed by the top-level ‘FD Game Studio’ team in the industry. The journalist found that FD is just the English abbreviation of Fan Disk, a single-player game, and there is no such organization as ‘FD Game Studio’ in either China or abroad.
Our game platform integrates the technical features of blockchain such as point-to-point trading, decentralization, unchangeable, and completely anonymous. The company is based in Singapore, and currently only open to the domestic market, so it is a rare investment dividend period now. Although Chen Hong has always introduced the background of the ‘company’, he has never revealed the specific name of the company.
According to Chen Hong, this quick way to get rich is that consumers need to invest 660 yuan to buy 600 coins on the platform to build a house in the game mall. After that, the platform will return to the investor an interest of 1% to 3% of the principal every day, ‘This is returned with compound interest, and as long as you don’t withdraw it, your coins will keep increasing, and the compound interest will also become higher.’
He took out a marker to calculate on the spot, starting from an initial capital of 660 yuan, the investor will obtain about 8,000 yuan in profit after six months, and 100,000 yuan in return after one year.
And investors do not need to really play the games on the platform, ‘All you have to do is open the platform interface every day, click once, and maintain your activity level.’
▲Chen Hong (pseudonym) showed the game coin trading interface to the journalist at the teaching site. Photo by Wang Feixiang, The Beijing News.
Developing downline:
Luring 30 players can get 24 million
The platform coins cannot be withdrawn directly and need to be traded point-to-point with other players within the ‘Great Dynasty’ platform, with the transaction price of one coin being one Chinese yuan. The other ‘lecturers’ in the office seemed to see the investors’ concerns about not being able to monetize and said, ‘You can sell the coins to us, and we will buy as many as you have, but basically no one sells coins now because the price of coins will rise in the future.’
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What if you are in a hurry to withdraw cash? Chen Hong provided another way to monetize—direct recommendation, ‘If you develop 5 players (investors), you can get 50 USDT as the platform reward; if you develop to 10 players, and three of them each develop 3 players, you can get 100 USDT.’
USDT, known as Tether in Chinese, is issued by an overseas cryptocurrency company, Tether, claiming to be 1:1 anchored to the US dollar, with the price of 1 USDT always maintained around 1 dollar. However, this currency has not been recognized by financial regulatory departments in China, the United States, and other countries.
In the mouths of the ‘lecturers’, for every player developed, the platform will receive 10% of the player’s total income. By analogy, if 30 players are developed, and each player has 10,000 users in the system, the platform will reward 2,000,000 USDT. Adding the 10% income value of each sub-player, the user can receive 24 million RMB in one go, becoming a genuine million富翁. In a few months, the platform will issue a special FDG Online Casino and How to find it, and players within the platform will have the priority to subscribe, creating the world’s first blockchain game asset exchange.
A ‘FDG White Paper’ for internal communication obtained by the reporter shows that the platform will issue 210 million FDG, of which 30% is used for market promotion, technical team, and ecological construction, and the remaining 70% is distributed to miners.
Where does the profit come from for such small investment and high return projects? Chen Hong said that the platform earns money from game companies and stores入驻 on the platform, so every promoted investor is equivalent to adding one player to the platform’s ‘large database’. Game companies and stores will give rebates to the platform.
This statement has not been recognized by some game companies. After investigation, a game named ‘Xiao Xiao Warriors’ within the platform is operated by Guangdong Xinghui Tianhuo Interactive Entertainment Co., Ltd. When the reporter called the company, it was found that they had never collaborated with blockchain projects and had never heard of the ‘Shengshi Dynasty’ platform.
Target for promotion:
Locking in non-gaming elderly people
Chen Hong was previously a real estate broker. After being introduced by a friend, he learned about the ‘Shengshi Dynasty’ project. A month ago, he resigned from the company and started to run his own ‘Wealth Team’ full-time.
’I have shared 5 players in just half a month and have already earned 50 USDT.’ This point was emphasized at least three times during the lecture, trying to convince the audience that the platform would not mistreat any hardworking investor.
On November 30th, Li Aiping, with white hair, still felt confused after listening to Teacher Chen Hong’s class again. Although she had heard the same content several times, she still did not understand blockchain and mobile game platforms, ‘But I know this is very profitable.’
In another room, a players’ exchange meeting is also bustling with activity, most of them are elderly. ‘We old folks are starting to promote teams, and you young people should join earlier to make more money than us.’ said Tian Yulan, a player. Another investor told the reporter, ‘Tian Yulan already has more than 200 players, and our team is doing the best.’
After adding Tian Yulan’s WeChat, the journalist found that her WeChat circle is almost all related to ‘Great Dynasty’. ‘Relatives are the best to develop, followed by colleagues, and then colleagues’ friends.’ Tian Yulan revealed her business secrets.
When the journalist asked about what decentralization is, Tian Yulan’s expression changed, ‘Why do you need to understand that, just focus on making money isn’t it’.
In a confidential document of the ‘Great Dynasty’ game project obtained by the journalist, a barely noticeable small print reads ‘Main promotion target: elderly people who do not play games, the model highlights the pyramid scheme characteristics’.
Chen Hong introduced that the platform has just been online for three months and already has more than 10,000 users. Just the registration fee, the platform has netted over 6.6 million yuan. ‘This is just the marketing department in Beijing. Many marketing departments have been established across the country, including Shanghai, Shenzhen, Xi’an, Chengdu, and more than a dozen provincial capitals.’
Expert analysis:
Typical pyramid scheme model
That is to say, any kind of game currency, as long as it is issued and traded domestically, is illegal.
Zhao Yongxin, professor at Hebei Financial College, said that blockchain does not equal Online casino and How to find it. As a new generation of Internet technology, blockchain can have many application scenarios, and Online casino and How to find it is just one of them. However, because blockchain is a very complex new technology, ordinary people may not understand it and are likely to confuse blockchain with Online casino and How to find it, so dishonest elements take advantage of this kind of psychology to deceive the public.
Anti-pyramid scheme activist Yi Tie analyzed that this is a typical virtual currency plus pyramid scheme model, using the name of blockchain to defraud by means of virtual currency, which is actually fake virtual currency and fake ICO, and the essence is still fraudonline and The most exciting gameplay. ‘The bubble of lottery and How to find it is already very large, and with the addition of pyramid scheme currency, the bubble will be even larger. This kind of project is almost certain to fail, it’s just a matter of time’.
(Chen Hong, Li Aiping, Tian Yulan are pseudonyms in the text)
Proofreading by Liu Yue