On July 25, a video titled "Three days back to the village, my second uncle cured my internal mental stress" became the focus of social media attention.
On July 28, a user named second uncel dao on Twitter said: The second uncle will be issued second uncle coin ("Second Uncle Coin") to provide security for the second uncle's pension, and all the funds in the marketing wallet will be donated to the second uncle.
After the launch of "Er Jiu Coin", it encountered market speculation and rose more than 100 times in a short period of time, but suffered a sharp drop in the following two days.
At the same time, the issuer was also suspected of running away with money, and the amount involved may be as high as $1.3 million.
It only took three days from the start to the skyrocketing to the collapse, and the "Second Uncle Coin" set a record for the fastest collapse in the currency circle.
A reporter from Beijing Youth Daily noticed that after the "Second Uncle Coin" collapsed, "Big Uncle Coin", "Second Uncle Coin", "Grassroots Second Uncle Coin", etc. appeared in the market again. Fancy cut leeks.
According to industry insiders, the short-lived "Second Uncle Coin" and "Big Uncle Coin" show the fancy cutting of leeks in the currency circle, and also reflect the various chaos in the current currency circle.
hot spot
Alleged fraud risk
"Second Uncle Coin" is marked with a warning sign
After the "Second Uncle" video became popular, on July 28, a Twitter account named "Second Uncle Dao" announced that it would be grafted on virtual currency and launched second uncle coin ("Second Uncle Coin").
He claimed that the second uncle's pension will be guaranteed by issuing second uncle coin, and all the funds in the marketing wallet will be donated to the second uncle.
He also attached the contract address at the end of the article.
A reporter from Beiqing Daily tried to get in touch with the blogger "Yi Ge Guess" who posted the video of "Second Uncle", but has not received a reply as of press time.
However, an allegation questioning Erjibi’s alleged fraud also appeared on Twitter.
On July 28th, an account named "Who Cares News" posted that "Security Expert Iketrinia Rais" posted that it detected the occurrence of Rugpull (currency circle jargon, meaning in the recently popular "Second Uncle Coin" (SUC) pool for short) volume run away).
A contract deployer has cleaned the stolen funds through Tornado Cash, and the price of the token SUC has fallen by 99.7% so far.
According to statistics, the total profit of this fraud incident is as high as 1.3 million US dollars.
"second uncle dao" then responded to the remarks about running away, saying: "The team has not Rugpull nor withdrawn from the pool. Where is the so-called expert Twitter, can you show me the way?"
The Beiqing Daily reporter inquired about the relevant information and did not find the post of the security expert Iketrinia Rais. There are also problems with the authenticity of the question itself.
However, the "Er Jiu Coin" project does exist and can still be traded on some virtual currency websites.
A reporter from Beiqing Daily inquired about Top100Token, a well-known virtual currency information website, and found that the project "second uncle coin" has been removed from the website.
But some other virtual currency websites can still see the relevant introduction of the coin.
Some currency circle websites even directly marked "Er Jiu Coin" with a "fraud warning! (Scam alert!)" logo to remind currency circle investors that these tokens are at risk of fraud.
chaos
After the "Second Uncle Coin" collapsed
"Uncle Coin" and "Second Aunt Coin" debut
According to a number of digital currency websites, many virtual currencies with "Second Uncle" hot spots have been launched one after another.
"Big Uncle Coin", "Second Aunt Coin", "Grassroots Second Uncle Coin", "Second Uncle Coin", and "Second Uncle Coin" with the same name and different contract addresses appeared.
These coins are all created on the smart chain of a certain trading platform, and some of them have a market value of only a few hundred dollars. As of the press release of the Beiqing Daily reporter, these imitation "two uncle coins" ended in collapse.
Most investment platforms have warning signs for these coins.
Some websites warn investors on their trading pages that these tokens are very similar to other scam tokens through their smart contract analysis, ensuring users are fully aware of the risks associated with trading this token.
focus on
Cut leeks by earning traffic with the help of hot spots
The cost of issuing coins is only 100 yuan
Beiqing Daily noticed that whether it is "Second Uncle Coin", "Second Uncle Coin", and "Big Uncle Coin", they are all issued on the Binance Smart Chain and have nothing to do with China.
Although virtual currency transactions have been banned in China, many people can still participate in virtual currency transactions through foreign websites. For example, most of the participants of "Second Uncle Coin" are domestic investors.
Investor "Mu Deng" in the currency circle told the Beiqing Daily reporter that "Second Uncle Coin", like Dogecoin, Catcoin, and Dogewang coin that became popular in the past two years, are purely speculation concepts.
But this "Second Uncle Coin" used news hotspots to "gain traffic", but the traffic here is investors' money.
"Mu Deng" said that these currency circles have been in chaos for a long time, and this is a way to cut leeks.
The reason for these chaos is that the cost of issuing coins in the currency circle is too low. Anyone can issue coins on the blockchain, and only need to pay a fee for chaining and storage, which is about a few hundred dollars, or even Some chains can be done with only 100 yuan. Of course, whether they can be recognized by the market is another matter.
"Liu Shuai", an investor in the currency circle, said in an interview with Beiqing Daily that "Second Uncle Coins" can only be used by new players, and senior players will generally not touch them. Unless you can buy the low price immediately, Otherwise, chasing high and going in is almost a life-and-death situation.
This kind of currency is particularly popular in the currency circle, 99% of which is to build momentum, call leeks to take over, and then run away after the money is circled.
A reporter from Beiqing Daily found that on Baidu Tieba, Station B and other online platforms, there are sellers selling coin issuance tutorials, and some tutorials can be purchased for only 10 yuan.
"10 minutes can help you get a concept token." Searching for keywords such as "blockchain token development" and "coin issuance" on Baidu, you can find many outsourced teams that claim to be able to develop tokens. They claim to be able to help the project party Provide exclusive network, identity chain, smart contract, consensus mechanism, cross-chain transaction, multi-chain interaction and other development services.
The price is determined according to the different needs of the project.
Supervision
my country expressly prohibits the issuance of virtual currency
Virtual currency transactions are not protected by law
A reporter from Beiqing Daily learned that my country has explicitly banned the issuance of virtual currency.
The "Announcement on Preventing Token Issuance and Financing Risks" issued by the People's Bank of China and other seven departments shows that token issuance is "unapproved illegal public financing, suspected of illegal sale of token tickets, illegal issuance of securities and illegal fundraising, Financial fraud, pyramid schemes and other illegal and criminal activities”.
In addition, my country has also issued regulations on relevant normative documents such as the "Risk Warning on Preventing Illegal Fund Raising in the Name of "Virtual Currency" and "Blockchain", "Announcement on Preventing the Risk of Hype Risk in Virtual Currency Transactions", and clarifying the risks of virtual currency transactions. The transaction is not protected by law, and the losses arising therefrom shall be borne by the parties themselves.
Text / reporter Zhu Kaiyun
This edition co-ordinator / Yu Meiying
warning
The hype of "Second Uncle Coin" is similar to drumming and passing flowers
There is a risk of asset zeroing
Lei Guoya, a partner lawyer of Jingshi Law Firm, told the Beiqing Daily reporter that the issuer of the "Second Uncle Coin" generated financing through virtual currency crowdfunding, taking advantage of everyone's sympathy for the "Second Uncle". Credit-guaranteed financing is easily exploited by fraudsters.
"Second Uncle Coin" is the same as the Dogecoin that became popular in the past two years. Not many people think that it will have long-term investment value. When they buy it, they think that someone will take it later, and then sell it when it rises. pure speculation.
Similar to drumming and passing flowers, whoever receives the last blow may be locked up for life, and even the risk of assets being returned to zero.
Wang Peng, a researcher at the Intelligent Social Governance Research Center of Renmin University of China, believes that the "Second Uncle Coin" is a financing behavior without any credit guarantee, no information disclosure mechanism, and no limit on the rise and fall. It is very prone to chasing up and down.
These virtual currencies often do not have related underlying assets, and they are more for making money.