#PI# a "perfect" tool for hiding funds and cross-border transfers
The biggest difference between Xinkangjia and the previous Ponzi schemes, and the key to its "success" in swindling 13 billion, lies in its use of the recently popular concept of stablecoins. The platform requires all investments to first convert RMB into USDT, and its internal pricing, payment of "profits," and promised "returns" are also conducted in USDT. This seemingly "innovative" operation actually hides malicious intent.
The biggest difference between Xinkangjia and the previous Ponzi schemes, and the key to its "success" in swindling 13 billion, lies in its use of the recently popular concept of stablecoins. The platform requires all investments to first convert RMB into USDT, and its internal pricing, payment of "profits," and promised "returns" are also conducted in USDT. This seemingly "innovative" operation actually hides malicious intent.
PI-4.12%