Why can’t I register on Yuanbao? (Do you still have a trading platform on Yuanbao?)
Why can’t I register on Yuanbao website? Yuanbao website is a blockchain based digital asset trading platform, guided by the China Electronics Chamber of Commerce (referred to as the “Ministry of Industry and Information Technology”), co hosted by the Shenzhen Information Service Industry Blockchain Association and Tencent Cloud. In the Notice on Preventing the Risk of Illegal Fund Raising in the Name of “Virtual Currency” and “Blockchain” released on December 8, 2018, it was pointed out that “virtual currency” (crypto asset) is a new payment method that uses Cryptocurrency as the main means of value storage Currently, many internet companies and enterprises in China have started to commit fraud against virtual tokens. For example, when a product called “Yuanbao Online Mall” is launched on Baidu’s application store, users cannot withdraw money after registering their account; NetEase has launched a website called “Yuanbao Online Mall”, where users can purchase goods with cash. However, due to the lack of Chinese meaning on this website, as well as the presence of advertising signs and promotional materials, and various issues that need attention, if it were not for this type of scam, one could only fail to register. Similar issues have also occurred on the official website of the “Yuanbao Online Mall” app. Why can’t I register on Yuanbao? Due to the official statement, this product will not be used by any third-party institutions for investment or promotion purposes, nor will it support related activities. At the same time, the announcement states: “We will take necessary measures to solve the above problems at any time based on the actual situation. Therefore, investors need to report relevant violations and complaints in a timely manner, and return the funds to the designated account as soon as possible
Is Yuanbao trading platform still available
It is reported that the official WeChat official account of Yuanbao trading platform “Old Currency Circle” is currently recruiting registered users. However, further understanding is needed regarding the operation and development of the platform. The “Old Coin Circle” stated: “There were no recharge services opened before January 4, 2018; there were no recharge functions available before March 2, 2019; and by the end of May 2020, wealth management products, contracts, and other products were launched.”
It is reported that the Old Coin Circle has previously issued multiple articles questioning the “fraudulent behavior of the Yuanbao Exchange” and has also been interpreted by the media as a fraud incident.
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