Starting GTP: a premeditated run

In June of this year, a fund project called GGT quietly emerged in the currency circle.

But just a month later, GGT declared a crash. The project party lost the alliance collectively and forcibly exchanged user assets. The price of the secondary market plunged 96.1%… The investors completely collapsed.

What is even more shocking to them is that GGT has appeared as early as 2018. This year, the project introduced a funding disk model for GGT. However, the project side did not even design the model, these are the outsourcing team. The latter now claims that he is also a victim… This kind of thing is not the first in the currency circle, nor the last one. But there are still people who have followed suit.

01 Running on the morning of July 29, digital currency investor Zhang Ke was woken up by a rush of WeChat prompts.

Countless WeChat communities and private chat windows are telling him the same thing – the GGT project "running the road".

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At 4 o'clock in the morning, the digital money GGT's wealth management wallet uses "G-Wallet" to convert the USDT assets deposited by the latter into GGT without the investor's confirmation, and the exchange price is 0.04 per piece. The USDT was about 30 times the price of the secondary market at that time.

This means that the USDT assets in the hands of investors have become worthless.

GGT's performance in the secondary market has been unsatisfactory long before this nightmare.

After the "forced exchange" incident, GGT showed a historical low price of 0.0005USDT in the secondary market, which was 96.8% lower than the opening price of G-Wallet (0.016USDT) in late June.

In the morning of July 29, GGT fell to a record low of 0.0005USDT

That morning, Zhang Ke witnessed the GGT investor community he joined, and was renamed the “GGT Rights Group” by angry investors. The sound of snoring continues.

As a large investor, Zhang Ke has had several relationships with people from the GGT project. He contacted the WeChat of the project party members at the first time, but found that he had already been blacked out by the other party.

There are also investors who go to GGT's office location, Shenzhen Jingji Binhe Times 4005, trying to find a project side. But what they saw was another company that had nothing to do with GGT. The building property told them that the previous company had moved out of the building as early as a month ago.

At the time, the opening of the GGT was only one month. This means that the GGT project party chose to retire when the G-Wallet project opened.

Investors seem to have experienced a premeditated human evaporation.

What kind of project is it that makes these investors into the abyss GGT?

GGT is the digital currency issued by the blockchain project Goldlinks. The white paper shows that the goal of this project is to create a digital gold system based on blockchain.

To this end, Goldlinks officially issued two digital currencies. The first one is GGC, the project party declares that the currency has 100% physical gold reserves, which is the stable currency for price anchoring physical gold; the other currency is GGT, the official said that its price is affected by the “Goldlinks Ecology”. "Appreciation potential."

In the currency circle, Goldlinks has an unclear prospect and limited technical strength. It has always been a small project that is unknown. However, in June of this year, this project was like a resurgence, and suddenly launched the wealth management wallet product G-Wallet, and once again received attention .

According to official sources, on the G-Wallet platform, investors can deposit USDT and earn interest on deposits. Interest is paid in the form of GGT.

G-Wallet offers different interest rates depending on the investor's time of deposit. If it is held for 180 days, investors can get the highest daily interest rate – 1.2%, and its annualized rate of return is as high as 438%.

Compared to the new mode of mining, resonance and even "walking to make money", the GGT model is nothing new. But even then, it still attracts a large number of users.

02 resurgence

Under the operation of the project side, in late June of this year, G-Wallet, which was called “inner disk” (primary market) by investors, was launched. At the end of June, ZBG, the innovation zone of ZB Exchange, launched GGT and became the most important secondary market channel for GGT.

As the first investor in the GGT financial management project, Zhang Ke witnessed the rise and fall of GGT.

Different from the traditional blockchain project, GGT almost completely abandoned the traditional modes of Meetup, roadshow, media exposure, etc., but completely sneaked into the ground and spread among community users.

“The project side works with many coin circle investor communities to make candy in the community and attract investors.” Zhang said.

To this day, there are still a lot of GGT candy collection links on the Internet. Through them, investors have been able to receive 888 candy for free. Airdrops in June, these candy is about 80 yuan.

In addition, investors invite other users to collect candy and have received an additional bonus of 188 candy.

As a fund disk project, G-Wallet did not give up the pull mode.

According to official data, investors can get up to 15 generations of rebate rewards after recommending 8 valid users. Among them, the first-level downline can return 25%. Even for 15 generations, you can repay 5%.

In fact, the GGT was launched as early as 2018. At the beginning, GGT did not introduce the fund disk model, but chose to promote it in overseas regions such as Japan and South Korea.

Until June of this year, the pyramid scheme and the fund mode swept across the currency circle, and the GGT was only returned to the country and revived.

Nearly half of the articles on GGT's official Medium account "GoldlinksGlobal" were published in Japanese. “The project side has already laid out the GGT project very early. After the '9·4' in 2017, the domestic ICO could not do it, they only left the Japanese and Korean markets.” Zhang Ke revealed.

Goldlinks white paper shows that the project CEO Ouyang Wei, once served as the president of Guizhou big data company "Guizhou Guizhou". According to public information, Guizhou is the official partner of Apple iCloud, and the major shareholder is the Guizhou State-owned Assets Supervision and Administration Commission, which is a leading company in the industry.

Goldlinks CEO Ouyang Yu attended a business event

"We chose GGT, and we also took a look at Ouyang Yi's personal strength." Zhang Ke said, "We feel that people like him who manage big companies should not cut the leek naked."

However, GGT's market performance does not have any bright spots. According to the data of the currency exchange, the price of GGT has been falling since the end of 2018 at the exchange.

"We originally invested in GGT because it once had a high price of $1.7. In June, its price was at a historical low." Zhang Ke said, "but I did not expect that after the 'mode' route, GGT will Has been falling."

According to the exchange data, in June this year, after GGT launched the financial management model, the price of the secondary market continued to fall, but the transaction volume showed a significant increase.

Zhang Ke guessed that this may be caused by the project side in order to lower the investment threshold of GGT. “There is a gossip that the project side compensated some investors for the loss of early Japanese and Korean investors.”

03 “Model Outsourcing”

In the "model currency" tide of 2019, GGT became a typical case of the "new model of grafting old projects" and revived. However, the truth behind the design of the GGT model has surprised many investors.

“After killing the country, the GGT project team found three 'circle squads' and designed a fund disk model.” Zhang Ke revealed, “But these three people are just “outsourcers” and only responsible for model design. The operation, operation, or the project party is responsible."

Under the planning of these three “big circles”, G-Wallet was born.

"Even mode can be outsourced, which is the first time in the currency circle." A GGT investor pointed out.

The investor presented a project side internal document to a blockchain. The contents of the document relate to the GGT's internal storage (G-Wallet) deposit and lock strategy.

In addition, the document pointed out that the project party should adopt the "market value management" means before August 25 to ensure that the currency price is not lower than 0.016 USDT. Below the file, a signature called "Mark Y" appears.

“Mark Y is the project party COO Yang Yongtao.” Zhang Ke said. A GGT investor linked to a blockchain pointed out that G-Wallet is officially operated by the GGT project party.

According to many investors, unlike other fund projects, the GGT project is very low-key, and there are few behaviors in which the community is shouting or boosting investor confidence.

After the G-Wallet crash, the project side also chose to directly disband the official community, and black all investors, the world evaporated.

Losing all the channels that can reach the project side, GGT investors began to aim at the three "big circle" of the GGT planning model.

However, these three “big bangs” also claimed to be victims, and said that they were also blacked out by the project party and could not contact each other.

“I am also a victim myself.” One of the three “big bangs”, the self-proclaimed “Xu Zong” investor, said to a blockchain that he also invested in GGT, “a loss of nearly one million”.

In the view of "Xu Zong", the biggest problem of the project party is: not complying with the promise of not breaking, forcibly redeeming the user's assets, and unilaterally losing the "running".

In the face of the project party that lost the link, “Xu Zong” and Zhang Ke and other investors chose to report the case.

In many investor communities, Zhang Ke called on GGT investors to go to the investigation. "The Plustoken trader has been arrested when he ran abroad. Where does the GGT want to go?" Some investors have joined the group.

What surprised Zhang Ke was that more investors were still lucky and even publicly called on others not to report the case. They are worried that once the police intervene, the contradiction between the project party and the investor will be completely intensified, and they may not be able to get back the investment.

“Many times, I suspect that these people are hired by the project side,” Zhang said indignantly.

"From the performance of the GGT, the project side may not have thought about trading and operating projects at all, just want to cut a wave and leave." Tan Lei, a investor in the enthusiasm of the circle, said to a blockchain.

"There has been a '369' saying in the lap." Tan Lei said, "The so-called '369', that is, the small plate adheres to 3 months, the middle plate for 6 months, and the market for 9 months. In addition, there are still a batch of no. Ambition, a dish with no conscience, can run at any time."

From the opening to the crash, the GGT took only one month. According to the platform regulations, the GGT lock period is two months.

This means that no one investor has made money from the GGT.

Most of them lost more than 90% of their assets.

As the currency price of digital currency such as Bitcoin picks up, the fund disk and the pyramid currency once again enter the currency circle.

The power of the ring circle is starting from the wind.

But as long as it is a fund, there will always be a day of running. The climax of the fund's aggressive entry into the currency circle has arrived, and their collapse has just emerged.

* The respondents in the article are all pseudonyms.

Text | ratchet

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