[Direct Report Network Beijing October 31] (Interface News) has been exposed by many media about the Vpay blockchain platform involved in pyramid schemes and Ponzi schemes.

 

According to Vpay's related website, Vpay is a fully open online payment platform. Like Alipay and WeChat, Vpay is based on blockchain technology and can successfully implement peer-to-peer cross-border transfers without any fees.

 

Vpay's total digital assets are 365 million yuan. It is an open source virtual currency. VpayLabs pre-digs 10 million as a seed asset for marketing and team incentives. The remaining 355 million Vpay digital assets are mined by circulation calculations and are distributed through users. The way of mining allows all users to hold Vpay digital assets and eventually achieve complete decentralization.

 

According to reports, there are two ways to make money through Vpay, the purchase balance or "digital asset management." The cash is turned into a wallet balance and points by purchasing the balance, and the platform periodically feeds back to the user. Vpay claims that the points can be compounded and the proceeds are considerable. At the same time, the development of the downline can also be profitable, that is, the typical “MLM” model. Buy “Digital Assets Management”, which is to purchase Vpay coins through the balance to participate in various crowdfunding.

 

Vpay, which is packaged in the concept of blockchain, digital currency, decentralization, etc., has attracted nearly 3 million registered users through temptations, which has attracted many “aunts” to enter the market.

 

Recently, Vpay has launched two cryptocurrency trading platforms on the Australian Stock Exchange and E. According to the pencil road report, there are currently 4 trading pairs on the E-line VTR, namely USTD, ETH, BTC and SMTH. Among them, SMTH (SNTHSMARTHOME) is an intelligent control system based on the blockchain IoT product interaction center, and does not have other exchanges.

 

In addition, Vpay also launched a crowdfunding platform. In the ABS chain crowdfunding list, Ali was the second largest shareholder of the project, so the project was called “Ma Yun’s chain” by members of the community.

 

Previously, the introduction of ABS chain crowdfunding said that the ABS chain of Ma Yun's shareholding is the next hundred-fold chain. It must be exchanged with vp currency, and at the same time, the user is not tempted to purchase the vp currency with the balance.

 

On October 31, ABS will continue the second round of crowdfunding. Pencil Road interviewed Vpay insiders said, "This crowdfunding RMB 8 cents, the current market price is 1.93 yuan, earn 25 times when you grab it. I hope you can understand vpay, don't miss this opportunity to save money. "You can purchase 15,000 member accounts, and the crowdfunding token will be released 1% per day. If you release it, you can sell it." The insider said: This is to prevent the smashing.

 

According to the Vpay website, its V-public interest project chain was also launched on October 18. According to the introduction, the V Charity Foundation is a non-profit charitable organization approved by the Cambodian state. Users can participate in the V charity fund donation through the Vpay homepage “V Public Welfare” module. At present, there is no relevant information on fundraising, donations, etc. on the website.

 

In September 2017, the Central Bank, the Central Network Information Office, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission, the China Securities Regulatory Commission, and the seven branches of the China Insurance Regulatory Commission jointly issued the "Announcement on Preventing the Risk of Subsidy Issuance Financing". No organization or individual may illegally engage in the issuance of financing activities, and financial institutions and non-bank payment institutions may not conduct business related to the issuance of financing transactions.

 

At the same time, the announcement shows that the financing of the issuance of tokens refers to the so-called “virtual currency”, such as Bitcoin and Ethereum, which is a kind of “virtual currency” that is raised by the financing entity through the illegal sale and circulation of the token. The act is suspected of illegally selling tokens, illegally issuing securities, and illegal criminal activities such as illegal fund-raising, financial fraud, and pyramid schemes.