TechFlow News, March 10: The Hunan Provincial Financial Office’s official WeChat account issued a public notice warning citizens to be vigilant against Ponzi scheme frauds. In its analysis of the collapse of the cryptocurrency investment platform “Yuzhi Finance,” the notice stated that Yuzhi Finance has completely “fled,” with all its offline stores abandoned and staff—including customer service representatives and “team leaders”—either unreachable or actively promoting new Ponzi schemes. As of now, police departments across various regions have opened channels for victims to register claims and are guiding investors to submit information in an orderly manner; the case remains under active investigation. The Hunan Provincial Committee of the Financial Office emphasized that such scams often disguise themselves using high-profile, technically complex concepts—such as AI, digital currencies, and NFTs—and that there is no such thing as a “zero-risk, high-return” investment in financial markets. Investors should remain highly alert to marketing gimmicks like “1% daily returns” or “high dividends.”
Earlier reports indicated that Yuzhi Finance Co., Ltd.—which operated under the guise of “virtual asset copy trading”—had already executed a “soft exit.”
