The Cosmic Exchange has been criticized by many, and it's impossible not to mention Yu Lingxiong. As for what he did, let me briefly describe it for everyone:
Initially made his fortune: He started out by developing downlines through a scam organization, being promoted to an executive within two years, using persuasive language to amass hundreds of millions of yuan. He later founded "HuiJu International Education Group" to package success courses, charging a high price of 3,800 yuan per session and implementing a tiered membership system, raking in tens of billions.
Blockchain fraud: In 2018, he launched scam coins like "Wansxiang Coin" and "Spinach Coin" during the blockchain craze, controlling the flow of funds through measures like locking assets and staggered withdrawals, raising over 250 million yuan for a single project before ultimately absconding with the money.
Cambodian identity packaging: Due to being listed as a "dishonest person" domestically, he moved to Cambodia and claimed to be the "President of the China-Cambodia Business Association," faking photos with politicians and creating a "state guest treatment" persona to continue defrauding people in the name of virtual currency and investments.
Controversies and dishonesty: He has been listed multiple times by the court as a dishonest person subject to enforcement, but through rhetoric like "being 1.8 billion in debt is more impressive than Shi Yuzhu," he has transformed his bad reputation into an "inspirational story," continuously attracting followers.
Therefore, many people now say that the Cosmic Exchange is synonymous with scams, and many directly curse, believing that registering means being directly robbed.
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