China’s Official Press Agency: 107 Altcoins Under Investigation for Financial Cr

[richfund_Pe]

This week China’s official press agency Xinhua news reported that nationwide public security authorities have cracked down on 107 forms of knock-off altcoins in 2017. These coins claim themselves fintech products, but are large-scale Ponzi schemes in disguise, according to the authorities.

[1715632455]

1715632455

[Enjel]

This is not surprising.

There are 1300+ coins listed on coinmarketcap (including Confido - they don't remove the scams).

So I'm sure there are way more than 107 coins that are scams.

[Spoetnik]

Good and more countries should follow suit.
Also this should be moved to the Altcoin section so they all can benefit from the info.

I have been trying to tell the investards their ICO shit is scammy and they don't want to listen.
Little do they realize they are supporting the enemy for which Bitcoin was created.
Big money has rolled in and cooked up rigged scammy scheme coins and then ICO'd them.
And as long as idiots make money off them they line up to defend them.
When they shouldn't !

You reap what you so and you all have been warned endlessly.