China has got 421 fake cryptographers

China has got 421 fake cryptographers
A Chinese government-backed industry organization has published a report on counterfeit cryptokrians. By April, 421 fake cryptrocories have been found in its monitoring platform, 60% of which are deployed overseas. The committee has also highlighted the flagship red flag of these cryptokuris.
421 fake cryptokuria
On Friday, the national committee of experts on Internet Financial Support Technology (IFCERT), an industry organization supported by Chinese government, published its analysis results on counterfeit cryptokuriyes.
IFCERT said that "some criminals are involved in financial fraud or pyramid schemes under the cover of virtual currency." The committee said, "In recent years, the virtual currencies shown by Bitcine, Light Cocaine, Ethrium etc. have been given constant attention." Said that counterfeit cryptocoaries often appear, "investors have to face big losses."

IFCERT's National Internet Financial Risk Analysis Technology Platform constantly monitors counterfeit crypto, the committee broadens, broadens:
Red flags
China has received 421 counterfeit cryptocirus; The committee has outlined some of the major red flags of these fake cryptokuris. First of all, they adopt "pyramid-based" business model, claiming that their cryptocrycines generate high returns.

Second, they do not have any real code, IFCIRT has described that they are not aware of blocking or can not generate blocks for one.

The third thing is that they will not be traded on legitimate cryptocurrency exchanges, "so they often do business over-the-counter or proprietary exchanges," the report said in detail:
IFCERT emphasized that fake cryptocards have no value and it is illegal that "many of these platforms do not have business premises and business information, and servers are often deployed overseas," therefore, any damage to victims It will be difficult to replenish again.

271 fake ICO
On Thursday, the Wall Street Journal published its findings independently after reviewing the documents produced for 1,450 initial coin offerings (ICO). Publication "has found 271 with the red flag, which includes the investor documents stolen, guaranteed returns, and missing or duplicate executive teams."

Investors in these 271 ICO have invested more than $ 1 billion, the publication is elaborate, and said that "some companies are still going to raise funds, while others have closed." According to lawsuits and regulatory actions, investors now So far, these projects have claimed losses of up to $ 273 million.