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October 2, 2022
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Police in China warn: scammers are impersonating the digital yuan project –

Police in China warn that scams that pretend to be a digital yuan are a growing threat in the country. The motives behind their actions are obvious. They want to rob naive consumers.

The police in China are fighting scamers

Let us remind you that the digital yuan may be released later this year. Beijing wants to start the project ahead of next year’s Winter Olympics. And although the work in terms of technology is going well, an increase in the activity of fraudsters can be seen in the background.

IN messagespublished by the Weifang Police Cybercrime Unit in Shandong Province, officials released a report detailing a scam called The “International Wallet of the Central Bank”.

Apparently, about 500 users were recruited for the project. The developers persuaded investors that recruiting more to the platform was to provide them with access to a secret, government-managed CBDC promotional fund worth $ 186 million. Reportedly, individual users were to earn up to $ 24,800.

A group of scammers said their platform would be launched in March. She collected the personal data of the project participants, including their real names, bank account numbers and telephone numbers. The information was obtained using a smartphone application which, according to the fraudsters, was key to accessing the new CBDC network.

In addition, it added that two-thirds of the fund’s resources would be used to promote the digital yuan abroad, and the remainder would be spent internally by individuals and businesses that decided to adopt CBDC early.

Beware of cheaters!

Of course, all of the above information is false. The media has drawn attention to the fact that the People’s Bank of China (PBoC) has repeatedly warned the public against such projects that “May include fraud and multi-level marketing strategies” and are not affiliated with the government or major state-owned banks.

It is worth adding that China is doing everything possible to become the first country to issue a central bank’s digital currency. Today, e-yuan tests are already underway in several Chinese cities.

Other powers follow in the lead of the Middle Kingdom. Similar plans are mentioned, among others, by Russia, the USA and the EU, which recently completed the stage of public consultations regarding the digitized euro project.

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