Yuan Pay Group Scam: China Cryptocurrency
Beware of this Yuan Pay Group scam, and a fresh cryptocurrency experience which may eliminate your entire life savings. Some folks use the “YuanPay” grammar in 1 word. What’s it about? YuanPay Group is a business which claims to have grown China’s own federal cryptocurrency. As a new investment possibility, YuanPay states this fresh cryptocurrency is prepared for distribution.
YuanPay Group asserts that after lots of hard labour “by very talented individuals and close work with the Chinese Government, the newly developed cryptocurrency is now ready for investment! As of January 11, 2021, anyone can convert any currency to this new China coin, and the full process takes less than 5 minutes.”, states that the Yuan Pay Group Scam.
The hook? They state “For every 1$ you invest in January, expect potential profits of 4482$ within mere months!”. Wowza. In addition they claim to be more exclusive, stating the business is the sole accepted and legalized business in China to exchange and market cryptocurrencies — just this particular coin.
“As of September 2017, China announced the ban on sales or exchanges of any ICO or cryptocurrency. Even exchange is against the law. That’s now changing, and this new coin is the reason why.”, asserts YuanPay Group.
China Cryptocurrency Scam
But after they have been encouraging this outstanding cryptocurrency investment possibility for the past couple of months, the Yuan Pay Group scam has been exposed by some victims who lost whatever they place in.
“They lured me in with a Google AdWords ad. I clicked on the ad for this new Chinese cryptocurrency sale, and I landed on the Yuan Pay Group website”, states Kazuo K.
He proceeds: “I registered to open an account and paid my money with a credit card. Then suddenly, I was transferred to coindaq.io people, and they asked me to fund more. They were not selling the new Chinese cryptocurrency but offering a cryptocurrency trade, and they scammed $15,000 from me. They have been changing the landing pages, but the same webpage of Yuan Pay Group appears.”
The YuanPay Group scam also grabs attention with their luring landing page paragraph: “Now you can change your money to China’s official government-backed cryptocurrency!” Convincing, correct?
“China has been the global leader in manufacturing for the past several decades; now it’s time for China to once again lead the way in technology, adopting the world’s first government-backed cryptocurrency.”
Can Be Yuan Pay Group Legit? )
Can Be YuanPay Group Legit? ) It doesn’t seem like that, people. The Yuan Pay Group scam is a contemporary variant of this Iraqi Dinar scam committing a decade past. In accordance with this, crooks convinced sufferers the Iraqi money might skyrocket in value when the nation becomes back in to shape.
They generated bogus Iraqi Dinar platforms which marketed “virtual dinars” to get a good deal of cash, promising that all is going to be redeemed in a gigantic ROI later on.
Some innocent individuals still think in this, sadly. For the time being, let us return into this YuanPay Group scam)
View the movie below to find that the YuanPay Group scam vulnerable:
In accordance with Wikipedia, “As of February 2018, the Chinese Government halted trading of virtual currency, banned initial coin offerings and shut down mining. Some Chinese miners have since relocated to Canada.” That is the reason why, nowadays, the YuanPay category scam is currently committing largely in Canada and the uk, but do not get duped — it will soon happen anywhere.
Feel free to talk about your expertise from the comments if you’ve got some.
Several other sufferers state they have lured to the trap by studying imitation Forbes and Yahoo posts. “The Chinese digital currency is not the same as Bitcoin and is not used for investment. It is like a 1:1 exchanged to its traditional currency.”, states Nil P.
YuanPay Group Scam: The Best Way To Prevent
The YuanPay category scam benefit from inexperienced traders. The web site has multiple un-clickable hyperlinks and incredible endorsements. Please don’t be tricked by it. There’s no supported launch date to its Chinese cryptocurrency (known as DCEP) yet.
Additionally the People’s Bank of China (PBoC) published a statement saying, “Anything that is trading on the market under the name of DC/EP or DCEP is not the national digital currency, and any launch time suggested on the Internet is inaccurate.”
Chinese Cryptocurrency: How To Record a Scammer
Enable your loved ones and societal networking buddies know about the Yuan Pay category scam. Please discuss this article on interpersonal networking. It is possible to also formally report crypto scammers as well as some other questionable actions within this market into the Federal Trade Commission (FTC) with this link under:
the way to Protect Yourself Much More
Meanwhile, instruct yourself with another cryptocurrency fraud-related content under, so you understand the way to remain secure on line . Additionally, feel free to use the Remarks section below to expose different scammers.
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