The road to the road is coming: disbanding the community, fleeing at night, and taking away billions of funds
At the end of June, as one of the most well-known fund projects in the currency circle, Plustoken had difficulty in raising coins. A number of media reported that the project was suspected of running.
The news is like a stone that shocks the waves and affects the nerves of investors.
This is not the only running project in the recent currency circle. The list of HDS, TokenStore… currency circle running projects is growing.
Investors are looking forward to the bull market, while the operators of the funds are trying to complete the harvest before the bull market.
What is the relationship between the beginning of the tide and the currency cycle? In addition to the above projects, which project will be the next one to run?
01 Running tide
“Is Plustoken running?” On June 27th, many coin communities were screened by the same question.
On this day, a number of investor communities began to break the news, saying that the well-known “financial project” Plustoken wallet appeared to be difficult to withdraw.
For a time, the city was stormy. And a capture operation has pushed this event to a climax.
On June 29th, the British media "Daily Mail" reported that Chinese police arrested six suspects in Vanuatu, a South Pacific island nation, on charges of "internet-based scam."
Subsequently, a number of media exposed the names and portraits of the above six people, and pointed out that these people are the traders behind PlusToken.
However, the suspected arrest of the PlusToken trader did not give investors peace of mind. Some investors have found that the digital assets in the PlusToken account have already been transferred to the exchange and some are ready to cash out.
The amount of money involved in this project is staggering – a screenshot of the network shows that in April of this year, Plustoken involved a total of $800 million.
According to a financial media quoted a person close to the police, Plustoken's amount involved is more than 20 billion.
Where is Plustoken?
According to official sources, Plustoken was founded in April 2018 as a digital currency wallet. The biggest highlight is its unique "smart dog" feature – users can turn on "digital assets of more than $500". Smart dog, enjoy 10%-30% monthly income.
According to official sources, the benefits of “smart dogs” come from the “moving bricks and arbitrage” between the various exchanges. In addition, Plustoken users can also earn commission income by developing offline.
“In the early years, Bitcoin’s moving bricks was indeed a profitable business.” Sun Yuan, a researcher at the blockchain, said, “But the barriers to moving bricks are low, and now there is no room for profit, and may even lose money.”
Investors tracked Plustoken's account address and found that they did not transfer any assets to the exchange account for a considerable period of time. This means that the so-called "transportation arbitrage" does not exist.
As a result, the reason for maintaining Plustoken's high returns is self-evident. This is an uncompromising fund-discount project, which can only rely on the funds of the post-entry personnel to protect the income of the old users.
As long as it is a fund, there is always a day of collapse.
In fact, since the beginning of 2019, there have been a number of digital currency wallet projects with slogans such as “moving bricks and arbitrage” and selling with high profits. Some investors joked: "The bull market is coming, and the tide of funds crashing is also coming."
In March of this year, there was a series of thunderstorms on the coin wallet: on March 20th, the DOGX wallet ran away; on March 21, the SuperToken wallet ran away; on March 23, the WoToken wallet ran…
At the end of May, TokenStore, which claimed to be a “decentralized smart wealth management wallet”, announced that it was hacked and the system would “upgrade and maintain” for 10 days. Subsequently, users have reported that TokenStore has been unable to withdraw cash.
TokenStore official data said that the project was jointly developed by the original AE public chain team and Google Alpha Go Lab, and the monthly income is as high as 40%-80%, which is more than Plustoken.
"Since TokenStore ran, I cleared the Plustoken." Plustoken investor Zhang Jiang said to a blockchain, "TokenStore is actually Plustoken's 'imitation', just 'the road is wilder.' I think one ran, The other is not far away."
In June of this year, the resonance coin HDS announced its running, becoming the "resonance mode coin" of the first collapse of the currency circle. In addition to these running projects, there are more funds, and they are plotting their own road plans.
"They are not already running, they are running, or on the way to prepare to run." Zhang Jiang snarled.
02 Active network
Since the end of March this year, the mainstream digital currency represented by Bitcoin has seen a general increase. Many investors believe that the bull market is starting. But this seems to have also accelerated the running of the currency fund project.
"The price of the currency has risen, and the fund-discount project on the currency circle is not only good, but it is bad." Sun Yuan explained that "the skyrocketing price of the currency will make the high-yield advantage of the fund project disappear. In addition, the high price of the currency. It will also allow some users to retreat and cash out."
In the view of financial columnist Yin Haotian, there are two major reasons for the collapse of the fund disk project: the new inflow of funds is not enough to pay the interest of the old investors; the trader takes the initiative to “receive the net”.
The “successful” trader will draw an arithmetic curve based on the inflow of funds and repayment of funds, and select “receive the net” at the inflection point of the arithmetic curve, that is, when the return is maximized.
“With the improvement of the digital currency market, the participants in the fund disk began to grow at a geometric level, and the money in the hands of the traders will increase.” Yin Haotian said, “But at the same time, they need to repay the money to investors. more and more."
Once the reimbursement funds are greater than the admission funds, the funds will enter the loss stage, and the trader will be unprofitable.
"So, the bear market is the golden stage of the layout of the funds." Yin Haotian concluded, "and the start of the bull market is the best time for them to cash in."
However, investors in the fund pool often do not notice this.
“Investors in many fund-discount projects are not worthy of sympathy,” Sun Yuan said. In his view, Plustoken's model is not very clever, and most investors know the essence of the fund, but they are still willing to take risks.
Sun Yuan said that as early as 2017, there was a project with the banner of “digital currency wallet financing” and “moving brick arbitrage”.
It is called "Ethtrade". Not only is the name highly similar to Ethereum, but it also steals the logo of Ethereum and claims to be the "intranet" of Ethereum.
But the patterns of the two are completely different. Ether trade is a simple fund. Investors can enjoy 15%-25% of their monthly income if they invest in US dollars. The source of the proceeds is also the “transparation of bricks and arbitrage”.
The Ethere trade was once hot, and V God responded that the two had nothing to do with: "They are just a 'pretty scam.'"
However, the memory of amaranth is often only 7 seconds.
Take Plustoken as an example. The project has attracted a large number of investors by virtue of its multi-layered rebate mechanism.
“Everyone has their own invitees, and most of them run a number of investor communities, acting as a 'pass microphone' between traders and ordinary investors.” Zhang Jiang said. To some extent, Plustoken has built a near-decentralized network structure with this mechanism.
After the project side “running the road”, various rumors were fermented in the community. Some people bluntly want to defend their rights, and some people are scrupulous about the "stepping effect", with the intention of "stabilizing the military heart" so that they can leave the scene first.
As a Plustoken investor who successfully cashed out, Zhang Jiang did not disclose his earnings. But he revealed that by his side, investors have gained nearly eight figures.
“Some of the people who made the money were so proud that they even started to laugh at the lost amaranth.” He said, “The most typical example is the “exotic announcement” that will appear after each run.”
After Plustoken ran away, a notice signed under the "Plustoken Asia Customer Service Department" came out. According to the announcement, the popularity of Plustoken has caused "the uncertainty of Asian government policy." In order to allow each member to withdraw cash, Plustoken will suspend the withdrawal of all Asian members.
This announcement was ridiculed by netizens as: "In order to ensure that everyone withdraws cash, we choose to close the cash withdrawal function and run straight."
Coincidentally, after the HDS ran, there was also a “running road announcement”. According to the project party, due to the operator's “transfer mistakes”, the follow-up development of HDS was suspended – “the so-called gathering is impermanent. I believe that in the currency circle, we can still have a good time.”
"We just found an excuse to run, and we will come back and cut you later." Some netizens tweeted.
"In fact, most of these announcements were made by some large investors, used to satirize and humiliate retail investors." Zhang Jiang said, "The real traders are running straight and don't want to make extra money."
03 signs appear
The knives of the knives, the investors who trample on each other, the whimsical big market… Under the combined influence of various factors, the players who devote themselves to the fund project often earn less and lose more, and few people can retreat.
What is even more worrying is that this wave of running may have just begun.
In the capital circle, there are often many obvious signs before the project runs. Frequent changes to the rules are one of the most obvious signs.
Take the HDS running on June 17 as an example. A month before the road was run, there were frequent changes to the rules.
The HDS project first requires 60% of the large households to lock the position in order to receive the reward. Subsequently, they canceled the opportunity for retail investors to obtain the Sunshine Award. The benefits of investing in HDS are therefore greatly reduced.
Another sign of the fund disk project before running is to dissolve the community.
The WoToken wallet that ran in March this year began to disband the user community in batches a few days before the run, and asked the users to find their own referees to build their own groups, and the number of people could not exceed 30.
Obviously, this is to break up the investors, so that after the project side runs, it is difficult for users to reunite the power of rights protection.
There is also an important sign that the currency circle runs away, that is, "the system is in the upgrade and maintenance."
The TokenStore wallet, which ran in May this year, issued a notice before the road, saying that the platform would be maintained for 10 days due to hacking. After 10 days, the “China District Leader” of the project said: “The project may be really gone.”
Of course, in the circumstance of funds, there are also projects running, and no opportunities for investors.
In June of this year, a resonance coin project called “Moton” chose to release the “Running Road Announcement” at 2 am and disbanded the community. Many investors woke up and found that their assets had vanished.
"In this judgment, the next big fund project to be run in the currency circle is likely to be the Bell chain." Sun Yuan said.
A few days ago, the Bell Chain changed the rules of the game, the most important game project, "Super Rich." There are old players who are in a panic.
According to the new rules of "Super Rich", the price of ETH in the game will be anchored at 1200QC (QC is the RMB stable currency issued by an exchange, which is basically stable at around 1 yuan). This means that regardless of the ETH market price, it will be priced at 1,200 yuan in this platform. Other benchmarking ETH assets will also be benchmarked.
At present, the price of ETH fluctuates around 2,000 yuan. This means that new players will lose 800 yuan directly on the market. At the same time, the return period of the old players has been greatly extended, and the revenue has been greatly reduced.
The price of the Bell Chain BRC continued to fall in the past month, and has fallen by 51.4% from the highest point.
"The platform really didn't run, but releasing this announcement is no different from running." Some players said, "Maybe this is the soft running plan planned by the trader."
The bear market has spawned a large number of currency funds, and the market has turned better, allowing the fund to start a round of running.
"You want to earn interest, and people have taken a fancy to your principal." Some investors commented.
The game of taking part in the fire is often fierce.
Text | Pizza Ratchet