Suspected of illegal fund-raising, it is recommended to quit as soon as possible! Shenzhen issues risk warning

On March 28th, Shenzhen Office of Special Class for Prevention and Disposal of Illegal Fund Raising (Hereinafter referred to as "Shenzhen Office for Preventing Illegal Fund Raising"Official website, the local financial administration of Shenzhen, issued the Risk Warning on DDO Digital Option business, pointing out that the related activities recently carried out in the name of Ding Yifeng International for residents in China were suspected of illegal financial activities such as illegal fund-raising. The office has organized relevant departments to carry out work, resolutely deal with illegal fund-raising and criminal activities, and seriously investigate the legal responsibilities of relevant personnel.

The risk warning contents are as follows:

Recently, our office received feedback from the masses that Ding Yifeng International Asset Management Group Co., Ltd. (hereinafter referred to as "Ding Yifeng International") publicized and issued a DDO digital option in China to attract people to subscribe for investment. According to the materials provided by the masses, Dingyifeng International has successively issued three Notices of Significant Benefits to Global Investors, saying that it is anchored by physical assets and issues online digital options DDO through overseas digital asset exchanges, so as to publicize and sign the Dingdao Digital Option Subscription Agreement with subscribers to issue DDO digital options. According to the corresponding DDO White Paper, the digital option DDO is the so-called native pass of Dingdao public chain (token）。

The above-mentioned DDO digital option business activities carried out in the name of Ding Yifeng International are essentially the issuance and trading of virtual currency. According to the Notice on Further Preventing and Handling the Risk of Speculation in Virtual Currency Trading jointly issued by the People’s Bank of China and other ten ministries and commissions in September 2021, it is clear that the business activities related to virtual currency are illegal financial activities, and the services provided by overseas virtual currency exchanges to residents in China are also illegal financial activities. Domestic staff of relevant overseas virtual currency exchanges, as well as legal persons, unincorporated organizations and natural persons who know or should know that they are engaged in virtual currency-related businesses and still provide them with services such as marketing promotion, payment and settlement, and technical support, shall be investigated for relevant responsibilities according to law. There are legal risks in participating in virtual currency investment and trading activities. If any legal person, unincorporated organization or natural person invests in virtual currency and related derivatives, which violates public order and good customs, the relevant civil legal acts are invalid, and the losses arising therefrom shall be borne by itself; Suspected of undermining financial order and endangering financial security, the relevant departments shall investigate and deal with it according to law. The above-mentioned activities carried out in the name of Ding Yifeng International for residents in China are suspected of illegal fund-raising and other illegal financial activities. My office has organized relevant departments to carry out work, resolutely deal with illegal fund-raising and criminal activities, and seriously investigate the legal responsibilities of relevant personnel.

I would like to remind the masses that virtual currency lacks a clear value base, is prone to malicious speculation and price manipulation, and has high transaction risks, and is easy to become a tool for illegal fund-raising, fraud, money laundering, drug trafficking, smuggling and other illegal and criminal activities. The public is invited to enhance their awareness of risk prevention and identification, and must not fall into the trap of illegal fund-raising and other crimes. People who have participated in relevant trading activities are advised to quit as soon as possible, collect and preserve relevant evidence, and report to local regulatory authorities and public security organs in a timely manner.

Shenzhen fangfanhe management Fei fa Ji zi work zhuanban office

March 28th, 2024