The PuYin Coin case is a fundraising fraud case disguised under the name of 'Blockchain + Tibetan Tea' that involved the forgery of asset endorsements.
The project was issued by Shenzhen PuYin Blockchain Group Co., Ltd., initially called 'Pu'er Coin' but later renamed PuYin Coin. It claimed to be a backed digital currency tied to physical Tibetan tea assets, stating that one coin corresponds to one yuan of Tibetan tea, and falsely claimed to have 10 billion yuan worth of Tibetan tea as collateral, creating the illusion of solid asset support.
PuYin Company extensively promoted through its official website, the acquired P2P platform 'Quqian.com', as well as the internet and social media platforms, even holding roadshows at star-rated hotels, promising high annual returns, and falsely claiming to supplement 10 billion yuan of Tibetan tea support and split the tokens. At the same time, the company manipulated the investment funds, raising the price of PuYin Coin from 0.5 yuan to 10 yuan to attract investors.
In June 2017, the police received reports and intervened in the investigation, finding that only over 50 million yuan of investment funds were used to supplement the Tibetan tea, and the so-called 10 billion yuan Tibetan tea endorsement was purely fabricated. In March 2018, the police arrested six suspects and seized 100,000 cakes of tea. The case ultimately caused over 3,000 victims to lose about 307 million yuan, with the highest individual loss reaching 3 million yuan, and subsequently, the price of PuYin Coin nearly dropped to zero, resulting in significant losses for investors. In addition, the company had previously been fined 1.2 million yuan by the Shenzhen Market Supervision Administration for publishing false investment solicitation advertisements.
The overall trend is still upward, just choose to wait! Playing with cryptocurrencies is like a farmer planting rice; you just plant it and wait for the harvest. The cryptocurrency market is increasingly aligning with the changes of the four seasons: spring planting, summer weeding, autumn harvesting, and winter storing.
Newcomers in the cryptocurrency space should avoid contracts. If you've already started trading contracts and can't control it, then definitely do not short; the rise has no ceiling, while the fall has a bottom. With so many cryptocurrencies available, if you choose to go long on some at the bottom, and those who are already in contracts do not short, then you have already won over 70% of the people. Wang Baiyi's quote: Short-term trading can ruin three generations, contracts can ruin a lifetime, and holding coins can enrich your descendants. If you can quit contracts, try to do so! Warren Buffett's saying is the key to wealth! Protect your principal, protect your principal, protect your principal. $BTC $BNB $SOL #็พ่ๅจ้ๆฏ #ๅ ๅฏๅธๅบๅๅผน #็พSECๆจๅจๅ ๅฏๅๆฐ็็ฎก
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Ethereum liquidation wave triggers market turbulence: Opportunities and risks coexist within 24 hours
From December 16 to 17, the cryptocurrency market experienced severe fluctuations, with Ethereum (ETH) becoming the hardest hit by liquidations. According to Coinglass data, the total liquidation amount across the network exceeded $650 million in the past 24 hours, with Ethereum's liquidation amount reaching $234 million to $246 million, making it the highest among all crypto assets, accounting for approximately 35%-40% of the total liquidations. This wave of liquidations primarily targeted long positions, with over 180,000 traders subjected to forced liquidations, causing panic sentiment to spread rapidly.
Ethereum's price plummeted nearly 7% in a short period, briefly falling below the $3000 mark, reaching a low of around $2918. This decline stemmed from an overcrowding of leveraged long positions, coupled with Bitcoin's simultaneous pullback below $85,000, triggering a chain reaction. Exchanges like Binance, Bybit, and Hyperliquid saw the largest liquidation scale, with the single largest liquidation order involving Bitcoin, but the proportion of Ethereum long liquidations was even higher, highlighting a sudden reversal of investor bullish expectations for ETH. However, hidden within the liquidation wave are profit opportunities. Short traders accurately captured the downward trend, with some highly leveraged short positions yielding substantial profits.
Market analysis indicates that this round of liquidations has cleared excessive leverage, similar to the historical 'washout' process, potentially paving the way for a subsequent rebound. On the institutional level, giants like JPMorgan are still laying out tokenized funds on the Ethereum network, demonstrating that long-term confidence remains unchanged. Currently, the fear index in the crypto market has dropped to an extreme fear zone, with significant short-term volatility still present. Investors need to be cautious of further dips towards the $2800 support level while also watching for potential reversal signals. While leveraged trading amplifies profits, the risks are enormous; it is advisable to control positions and set stop-loss orders. The Ethereum Fusaka upgrade is approaching by the end of 2025, which may inject new vitality and drive prices back to high levels. #ETH่ตฐๅฟๅๆ
PEPE price slightly increased by 2.5%, trading volume exceeded $330 million, liquidation about $3.27 million community active
On December 17, Pepe (PEPE) experienced a slight uptick amidst fluctuations in the cryptocurrency market. According to data from CoinMarketCap and Coinglass, the PEPE price was approximately $0.000004 in the past 24 hours, with an increase of about 2.53%. It peaked near recent highs and maintained support at its lowest point. The trading volume in the last 24 hours reached as high as $332 million, showing significant growth and robust liquidity, with a market capitalization of approximately $1.734 billion, firmly positioned among meme coins, ranked 42nd globally.
In terms of liquidation, the total amount of PEPE liquidations across the network is about $3.27 million, with both long and short positions being liquidated, but the overall scale is moderate and has not triggered severe chain reactions. The long-short ratio indicates market divergence, with some leveraged bulls impacted during corrections, but shorts also contributed shares. Platforms like Binance and OKX are seeing active trading, with high opening interest reflecting investors' unwavering enthusiasm for PEPE.
This slight increase is attributed to Bitcoin stabilizing in the broader market, with PEPE, as a high beta meme asset, following the rebound. The community shows no significant negatives, with signs of whale accumulation continuing and social media engagement surging. Analysts believe that the extreme fear zone may present an accumulation opportunity, and if key support is maintained, a rebound could test higher levels. Looking long-term, the outlook for the end of 2025 is optimistic, with significant potential driven by meme culture.
Binance Square users are actively discussing leverage control and bottom-fishing timing, with many posts sharing experiences and reminding others to set stop-loss orders amid high volatility. The PEPE community is strong, fluctuating in the short term with sentiment, and it is advised to diversify holdings and pay attention to broader market movements. A new narrative may be injected in 2026, so stay tuned! #ๅ ๅฏๅธๅบ่งๅฏ
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The five elements of assets, the way of balance Metal, Wood, Water, Fire, and Earth, the five elements mutually generate and restrain each other, which is actually an ancient philosophy of asset allocation. Metal represents liquidity and defensive assets; Wood symbolizes growth investments, such as innovative enterprises; Water is cash flow and flexible reserves; Fire corresponds to high-risk, high-return opportunities; Earth is stable physical assets. Finance is not about placing a single bet but about the balance and cyclical symbiosis of the five elements. Binance ecosystem strives to build such a system: allowing resources to flow without losing balance, helping enterprises take root and grow, and ensuring the stability of people's wealth. #็พๅฝ้ๅๆฐๆฎ่ถ ้ขๆ #ๆๅ้่ #BinanceABCs
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The Rise of Chinese Satoshi: 2025, a New Chapter of Chinese Flow in the Crypto Circle
Ten years ago, Jay Chou proclaimed that 'Chinese flow is the most powerful,' breaking the monopoly of Korean wave in Chinese music; now in 2025, Chinese meme coins are replicating this trajectoryโrepresented by unique Chinese tokens, this sector has sparked global attention, breaking the long-standing dominance of English meme coins, and the crypto circle is ushering in a new narrative opportunity belonging to the Chinese world.
Once upon a time, the Chinese crypto community mainly followed Western narratives, only able to mimic cultural memes from overseas English meme coins. However, now a batch of Chinese meme coins, imbued with distinct Chinese internet cultural genes, has emerged, their design and concepts precisely resonating with the Chinese community's expectations for value growth, solidifying a strong community consensus. Moreover, it is noteworthy that many global crypto investors are beginning to focus on Chinese crypto culture, and the Chinese community has transformed from passive followers to important participants in the narrative of crypto culture.
This inevitably brings to mind Satoshi Nakamotoโthis name that changed the landscape of the crypto industry, which opened a new era for the industry with the concept of decentralization. Nowadays, KOLs at Binance Square are calling for the co-construction of a Chinese crypto culture community, aiming to inherit this original intention: everyone can be a practitioner of the decentralization concept, and everyone can contribute to the innovative development of Chinese crypto culture.
Just like Jay Chou's commitment to 'the most dazzling Chinese style,' our original intention is not to resist, but to let Chinese culture take root and flourish in the crypto world. When the global crypto circle begins to pay attention to the Chinese context and understands Chinese culture, when Chinese coins become a new carrier of decentralization spirit, this will be our 'Chinese flow moment.'
2025 is not the end, but the starting point for Chinese crypto culture to reach a broader stage. Let us build upon consensus as our cornerstone, with culture as our bond, and write a brand new chapter belonging to the Chinese-speaking world in the field of cryptoโafter all, Chinese crypto culture is inherently vibrant! $BTC $BNB $ETH
The Stellar coin (XLM) of case 56 not only experienced a sharp decline due to team-related selling scandals but has also been exploited multiple times by criminals for pyramid schemes, resulting in significant losses for many ordinary investors.
In the early stages, Stellar coin relied on airdrop promotions, allowing users to receive 6,800 coins by linking their social media accounts, which attracted a number of early investors. However, during the project's development, there were multiple reports in the market about large private sales of tokens by its team and foundation. A large number of tokens flooding into the market disrupted the supply-demand balance, and every time related news broke, it led to significant price drops, causing substantial losses for retail investors who bought at high prices. This is also a core reason why it has been listed as a case of 'cutting leeks'.
In addition to the selling issues of the project itself, XLM has also become a 'packaging tool' for pyramid schemes. For example, between 2017 and 2018, a group used the name of Stellar coin to hold promotional meetings, manipulating coin prices through self-built platforms to create false prosperity, with the amount involved reaching 500 million yuan; another group falsely claimed that buying their 'mining machines' could yield annual profits of up to 3.65 million dollars, developing 160,000 members through a referral rebate model, with the amount involved exceeding 200 million yuan. Ultimately, after these scams collapsed, most of the funds invested by the investors could not be recovered.
The price of Stellar coin is also affected by the overall fluctuations in the cryptocurrency market, lacking stable value support, and ordinary investors may encounter losses if they are not careful.
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