In China, the National Commission for Internet Safety Financial Technologies Experts (IFCERT) discovered 421 fake cryptivals in April 2018, 60% of which are from servers outside of China, meaning that their findings are quite difficult.
On Friday, May 18, 2018, the IFCERT report noted that the technology platform of financial regulations approved by China at the only state level, the National Platform of Internet Financial Risk Analysis Technologies, which started in December 2017, found that all these false cryptos have three common . We present you three red flags that should be paid to:
First, they rely on the pyramidal schemes operating model that argues that virtual currency can generate high profits and promises to get valuable prizes in return for large initial investment.
Secondly, the virtual currency does not have a real source code and can not generate and generate the blocks. Swindlers use the artificial division method to create a coin award and thus create an illusion of rapid growth of prices. Their propaganda claims that the currency never falls.
Third, it is impossible to trade on any legitimate crypto exchange with a false cryptocurrency. Beyond the scene, the prices are highly controlled by swindlers, which means that their victims regularly see price increases.
However, unfortunately, (as expected), users of these platforms can not perform any kind of transaction or cache. Turnover of fake cryptosets only occurs on their web pages and any of the suggested turnover is not safe and less useful.
Also, the report says that fraud with fake virtual cryptocurrency is an example of illegal money and pyramidal sales, the risk of swindling is quite large, and if they disappear, victims will be harder to protect their rights and get compensation because these platforms do not have any kind of business capital and their servers Abroad operated.
Interestingly, on May 16, 2018, the United States Securities and Exchanges Commission (SEC) tried to provide ICO fraudulent expertise to US investors through its own ICO launch.
On January 19, 2018, China's security minister said that the cyber pyramidal schemes would be destroyed by illegal activity.
source: https://goo.gl/J24D6S
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