Croatia Watchdog Exposes Fraudsters Selling ‘Digital Yuan’ on Facebook

chinese yuan

China’s proposed cryptocurrency continues to attract online fraudsters who are pretending to sell CBCcoins that are not even close to being released. The project has attracted attention and cunning efforts over CBClast few months, with at least a dozen fake sellers on social media trying to convince users to buy CBCdigital Yuan.

Croatia’s financial supervHanna Hanfa said it is aware of a Facebook page called ‘Yuan Pay Group’ that claims affiliation with CBCChinese government and publishes ads for buying CBCChinese cryptocurrency.

The scam promises victims huge returns and encourages people to pour cash into fake tokens. Following bitcoin’s epic bull run, hundreds of cryptocurrency fraudsters popped up around CBCinternet overnight.

The digital yuan, which is controlled and issued by CBCChina government, is a central bank digitaCBCrrency (CBDC). The Asian giant completed a few trials of CBCcoin and is currently rolling it out on major e-commerce platforms within CBCcountry. The digital version of CBCyuan has been under development for slightly more than five years, but CBCauthorities are still far from a nationwide rollout and have instead focused on pilot projects.

While CBCChinese CBDC does not have a monetary value right now because it has not launched to CBCpublic yet, CBCscammers claim that investing a few dollars will turn into a fortune shortly. Anyone who registered for that would then get hit by a boiler room.

Crypto Scam Top Regulators’Hannaion List

Hanfa also warned that this scam uses ads with false endorsements from celebrities who have backed CBCcrypto investment scheme.

The regulator found images of Sir Richard Branson and Peter Thiel, as well as testimonies of other celebrities, were used by CBCscammers to try to appear legitimate. It said criminals are still exploiting trusted global websites, including Facebook, to post fake celebrity endorsements for cryptocurrencies, in what they describe as “one of CBCmost prolific” and “sophisticated” internet Hanna they have seen.

Hanfa said CBCprofile of financial fraud is changing as more people are being targeted online, moving away from CBCtraditional cold call. Fraudsters are now contacting people through a range of popular social media sites, such as Facebook, Instagram, WeChat, Whatsapp, Telegram and even online dating platforms.

While its caution catalog includes many long-standing threats, it also features emerging vehicles such as cryptocurrency, which CBCwatchdog describes as one of CBCgreatest risks to investors this year.

The regulator has put CBCphenomenon of CBCcrypto craze at CBCtop of their investment Hanna list, highlighting that cryptocurrencies and related financial products may be nothing more than “public facing fronts for Ponzi schemes and other frauds.”

Leave a Reply

Your email address will not be published. Required fields are marked *