The rectification of chaos in the currency circle has begun to extend to digital asset exchanges. On November 4, a BISS Coin Market Exchange (hereinafter referred to as "BISS") called the "coin speculation tool" issued an announcement on its official website stating: "At present, some of the business leaders of BISS are actively cooperating with the relevant departments to investigate. After the investigation is over, , We will resume normal business as soon as possible." On November 5, a Beijing Business Daily reporter rushed to a BISS office in , Chaoyang District, , and found that the office door was closed, and several other insiders said Beijing Business Daily reporters said that most of BISS staff were taken away by the police on October 30 for investigation. The BISS operating company is Beijing Suzi Technology Co., Ltd. (hereinafter referred to as "Suzi Technology"). The main reasons for the investigation are Suspected of fraud. Some practitioners said that there are currently tens of thousands of digital asset exchanges in the market. In addition to BISS, there are actually many other companies that have similar problems. With the cleanup and rectification of regulators, the digital asset exchange industry may usher in a "bloody storm". .
operating company named Suzi Technology was investigated for suspected fraud
"This incident is indeed quite sudden. On October 30, I also contacted their company staff. At that time, I said nothing was wrong, but I didn't expect to be a person after half an hour. I was arrested. The office space located in Chaoyang District is just a branch of their company. The department has about 20 to 30 employees. They also have office spaces in Shenzhen. "A person familiar with the matter, Zhang Li, (pseudonym), told Beijing Business Daily reporters.
Recently, a news about BISS "lost contact" has attracted the attention of the industry. On November 4, BISS, known as the "currency speculation tool", issued an announcement on its official website stating: "At present, some of the business leaders of BISS are actively cooperating with the relevant departments to investigate the inconvenience caused to all users. After the investigation is over, we will resume normal business as soon as possible. "
On November 5, a Beijing Business Daily reporter rushed to a BISS office in Chaoyang District and found that the door of its office was closed. Several insiders told Beijing Business Daily reporters that most of the BISS staff were taken away by the police on October 30 for investigation. In addition, according to the police officers in charge of the case, the BISS operating company is named Beijing Suzi Technology Co., Ltd. The company (hereinafter referred to as "Suzi Technology", is currently under investigation mainly because of suspected fraud.
At the same time, a relevant staff member in the same office building as BISS said, "Last Wednesday, the company on the first floor had already It was seized, and many police officers were present at the time, but they were not allowed to watch the situation. I heard that it was a company involved in financial business. There were quite a lot of office staff before, but the number of people has decreased significantly in the past month." The news of
was also confirmed by the property company responsible for the park. The other party revealed to a reporter from Beijing Business Daily that the company arrested by the police was named Suzi Technology. The company moved to the office in less than half a year, or It is because of suspected illegal and irregularities and has been seized by the police. Just last week, all the staff present at the company were taken away by the police. Why is
BISS investigated? Is it operated by Suzi Technology Company? In view of the above information, Beijing Business The reporter contacted the police, and the police in charge of the case confirmed to the Beijing Business Daily reporter that Suzi Technology and BISS were indeed In the same company, most of the company's personnel have been arrested. It is now the period of investigation and evidence collection. The tentative question is suspected of fraud. As for how to characterize it in the later stage, it depends on the investigation results. Regarding whether to investigate similar digital asset exchanges in the later stage, the police It is inconvenient to disclose.
day eye check data shows that Suzi Technology was established in May 2018. The legal representative is Chen Si. The company address is in Haidian District, Beijing. The number of insured people is 18, and the size of personnel is less than 50. It mainly engages in technology development. Transfer, computer system services, data processing, basic software services; application software services, software development and other businesses.
According to the job position information search service platform "Journalist Collection" page, Suzi Technology is a new generation digital asset exchange with a complete internal salary and welfare system. Beijing Business Daily reporters noticed that the average salary of Suzi Technology's recruitment positions is 30,000 yuan per month, currently there is a recruitment demand in Beijing and Shenzhen. The recruitment positions include quantitative trading platform developer, overseas product operation, operation director, large customer sales, senior security engineer, financial product manager, etc. Among them, financial The salary of the product manager is as high as RMB 480,000 per month.
violates the rules of coin stock trading membership model or is suspected of pyramid scheme
A person familiar with BISS who has business contacts told Beijing Business Daily reporters that from the perspective of BISS business model, its violations mainly involve the following three aspects: It is illegally trading US stocks for users without qualifications. The second is its membership system to attract new members or suspected of pyramid schemes, and the third is suspected of money laundering.
It is worth noting that BISS declares on its official website that "the world's first membership exchange, committed to building a new generation of exchanges that specializes in gathering the world's top digital currencies. It has recently obtained Metropolitan Capital, Zhen Fund, Jingwei China, and Strategy. Tens of millions of strategic investments have been made by many top institutions such as Yuan Venture Capital, BlueHill, Nirvana Capital, and Alphacoin Fund. It is mainly positioned as a "coin speculation artifact", and it is said that its "coin speculation artifact" version will be officially launched in December.
The above-mentioned person familiar with the matter told Beijing Business Daily that on the one hand, like most digital asset exchanges in the market, BISS's business model mainly relies on user transaction fees, listing fees, and issuing platform coins to make profits. In addition, BISS also claims to have an innovative business model, namely "coin stock trading" and "membership system".
According to the BISS official website, trading US stocks through traditional securities companies requires at least seven major steps, including registration and account opening, information review, US stock deposit, and buying US stocks. The most difficult thing is how to exchange foreign exchange dollars to deposit, which has blocked most people outside. However, in the BISS platform, users only need to recharge USDT to directly purchase US stocks.
In response to this, a senior industry insider who did not want to be named bluntly stated that BISS currency stock trading means that users can purchase US stocks through their digital asset USDT, which is equivalent to using the characteristics of USDT international circulation to purchase international stocks. However, BISS does not have stock trading qualifications and has not obtained regulatory permission. This innovative transaction undoubtedly bypasses personal foreign exchange purchase restrictions and has illegal acts.
. For membership-based innovative business, the BISS official website introduces that under the Member 2.0 framework, ordinary users need to purchase VIP1 junior members by spending BISS platform coins (the cost of purchasing membership when the announcement is released is 399BISS). Through the two indicators of " computing power " and "BISS 15 daily average holding", the VIP level is divided into 7 levels of VIP1 to VIP7, and different rights are given to members of different levels. For ordinary VIP1 members to VIP7 gold medal partners, there are detailed requirements for "'BISS 15-day and daily positions" and "computing power" of different levels, and they can only be upgraded after meeting the corresponding requirements. Beijing Business Daily reporters noticed that to reach the VIP7 gold medal partner, the "BISS's daily average position in 15" must reach 50,000, and the "computing power" must reach 50,000,000.
The aforementioned senior industry insider told Beijing Business Daily reporter that the rating of BISS members is related to the so-called "computing power", among which "computing power" is essentially composed of three parts of business: one is to invite users, that is, the so-called "pull people" . The second is related to transactions, similar to trading (mining), where the so-called "computing power" is accumulated through currency or fiat currency transactions. The third is holding positions, that is, increasing the "computing power" of users' relegation by holding fixed BISS digital assets. He further pointed out that in fact, these three categories have corresponding models in current mainstream exchanges, and the BISS membership system is equivalent to bringing together these three factors and connecting the three businesses through algorithms.
As for whether this model is suspected of pyramid schemes, the senior industry insider pointed out that in a horizontal comparison, if the purchase of shares is used as the entry fee, the development of downline personnel and the recruitment of people is the level of the following online personnel as the definition of profitability, the "performance" of the following online personnel is used as the definition of profitability To make judgments, the BISS membership system has relatively smartly avoided the bottom line of pyramid schemes and switched to the edge ball method to operate.But if the price of BISS falls sharply, it can actually be regarded as suspected of pyramid schemes.
Beijing Business Daily reporter noticed that since July this year, the price of BISS platform coins has been downward and plummeting, from the highest price of 0.4596USDT on July 8 to the lowest price of 0.0335USDT on November 3, a drop of 92.71%. .
digital asset exchange supervision will continue to be high pressure
It is worth noting that during the interview with Beijing Business Daily reporters, many relevant persons engaged in digital asset exchanges said that it is not surprising that BISS was investigated, and there are currently tens of thousands of markets. In addition to BISS, there are many digital asset exchanges that also have similar problems. With the cleanup and rectification of regulators, the digital asset exchange industry may usher in rectification.
Liu Feng, a corporate professor at Binjiang College of Nanjing University of Information Engineering and a member of the Blockchain Professional Committee of the Chinese Automation Association, introduced that the current threshold for digital asset exchanges is not high. You only need an exchange source code, register a server to deploy, and then buy a domain name. Can. In his opinion, this kind of exchange can only be considered a trading website in essence, because some special transactions in this type of website are closed after using the capital plate and pyramid selling plate. From this point of view, There are many illegal websites that may be on tens of thousands.
Regarding the digital asset exchanges in the circle, Liu Feng pointed out that whether it is Binance, Huobi, OKEx, HitBTC, ZB.com, or Matcha MXC exchange, most of the participants are still Asian, including China, In South Korea, Japan, etc., the number of traders accounts for more than half of the main traders. However, the competition among digital asset exchanges is also extremely fierce, and there are also many factors including technological innovation, policy changes, hacker attacks, etc., which leads to a drastic change in the ranking of digital asset exchanges.
Talking about the future regulatory trends of digital asset exchanges, Hu Jie, a practical professor at Shanghai Senior Finance School of Shanghai Jiaotong University, told Beijing Business Daily reporters that at present, some exchanges jointly operate the currency price of funds, coin issuing parties, and self-media. People criticized. Most of the current "coins" are air coins without fundamental support; in addition, trading behaviors and corresponding trading platforms and trading services are not regulated and are in an underground state. The currency circle formed by these coins and trading platforms can only survive outside the sun.
Liu Feng also pointed out that for the currency circle that focuses on digital asset trading, supervision will maintain a high-pressure regulatory trend and will never be relaxed. However, China currently advocates the development of blockchain technology application, hoping that domestic blockchain practitioners can move away from virtual to real, so that blockchain technology can be promoted in the industry. Therefore, he believes that under this background, it is not ruled out that the so-called "currency circle" practitioners will gradually transfer to the "chain circle" mainly based on industrial technology research and development and application.
"As for the fact that in some stages, the currency circle was filled with illegal acts such as capital trading, pyramid selling trading, internal trading, membership system, money laundering, etc., it will also be accompanied by more and more comprehensive policies and more mature regulatory technology, It gradually disappeared in the circle. And practitioners, funds, etc. in the currency circle can also gradually move to the chain circle and ultimately serve the industry." Liu Feng said.
Beijing Business Daily Financial Investigation Team
