Why was Huarongyun frozen (recent situation of Huarong Wealth)?
Why was Huarongyun frozen? According to the official website of Huarongyun, the
Why was Huarongyun frozen? According to the official website of Huarongyun, there are several reasons for the freezing of Huarongyun’s fund management service:
1. Unable to withdraw funds when users make deposits;
2. Assets lost due to system delays and other issues;
3. Users need to re-register their accounts in order to withdraw assets;
4. If a user’s account is stolen or maliciously transferred, it is likely due to the user sharing their private key with a third-party custodian;
5. The platform did not update users’ passwords and mnemonic phrase records in a timely manner;
6. Losses caused by “hacker attacks”.
Recent Situation of Huarong Wealth
Huarong Wealth (ZB) officially announced on March 31st that since February 2019, users participating in the digital currency field through the “blockchain + investment” platform have encountered a series of difficulties. In order to inform everyone of the latest updates and relevant information about Huarong Wealth, we will provide updates and improvements on the current situation.
It is reported that Huarong Wealth has achieved multiple strategic financing, mergers, and acquisitions milestones since its establishment, and is expected to complete the cumulative fundraising of angel and Series A rounds by the end of 2020, with a valuation of RMB 100 billion. A total of 60 million funds were raised from early 2020 to the end of 2021, with early investors contributing 50 million yuan and gradually expanding the scale as the market recovers. Approximately 100 new employees were added in December 2018, and the number of employees is expected to exceed 500 by the end of April. (Wu on blockchain)
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