What is Huobi Coin (How Huobi Coin Scams)

What is Huobi Coin? According to official sources, Huobi Coin is a digital asset

What is Huobi Coin (How Huobi Coin Scams)

What is Huobi Coin? According to official sources, Huobi Coin is a digital asset trading platform initiated by a globally renowned blockchain enterprise and investors. Its founder, Li Xiaolai, stated, “Technically speaking, there are currently two types of cryptocurrencies on the market – Dogecoin and Monero. One is a cryptographic digital currency on the Ethereum network, with two tokens on the network, one called ‘DOGE.’ The other is XRP, which is an ERC-20 token controlled and managed by a specific group of addresses. In addition, there is another type based on the Ethereum network, which will provide various decentralized applications (DApps) on the website.

How Huobi Coin Scams

How does Huobi Coin engage in fraud?

On June 12, 2018, Huobi Coin founder Li Lin claimed on Weibo, “I am a blockchain investor. I have invested in more than 100,000 project tokens.” Subsequently, he promoted and marketed his platform through a series of social media posts with the message “Please don’t believe it.”

According to publicly available information, “Old Ma” and “Xiao Hei,” et cetera, are big V accounts exposed recently. They started promoting their platforms’ investment in digital currencies using slogans like “If you don’t believe me.” They even posted that they have made tens of millions of RMB in profits.

In order to raise funds, these big Vs privately moved to social groups, friends’ circles, live streaming rooms, and other channels, attempting to connect their accounts with other users to deceive them into providing high commissions. Some claimed to have received funds from Huobi Coin exchange and then absconded, while many others directly contacted Huobi Coin customer service and demanded refund. “Now we can check this process back in WeChat. If we find someone impersonating a trader to do similar things, it should indicate that it is fake news!” Some people responded on Twitter, “What a pity.”

Huobi Coin was established in early September 2017 and registered in London, UK. It previously launched Huobi (Hoo) and has since developed into a global digital asset exchange. Its official website link is as follows: https://huobi.to/h5e-hdc8a3f0b4f1a16df2c0a9fae

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