It has been reported that a jewelry platform company named "Jie Wo Rui" in Shenzhen has encountered a major crisis.
This platform supports 40 times leverage, attracting over 140,000 users to deposit funds and participate in precious metals leveraged trading. Ultimately, there were orders for 12,000 tons of silver that could not be fulfilled, with tied-up funds exceeding 13 billion.
Such platforms are typical unlicensed "private exchanges" that use physical trading as a guise to attract users to deposit funds. The platform and users engage in high-leverage precious metals betting, and ultimately, a break in the capital chain occurred when gold prices surged.
From foreign exchange, bulk commodities, to cryptocurrencies, and then to precious metals, private exchanges have always been hotspots for running away and scams. Especially whenever the market skyrockets, various private exchanges emerge one after another.
Therefore, as the prices of assets like gold and silver rise, bringing market enthusiasm, one must also pay attention to the qualifications and security of the platform when participating in trading.
Here, you can choose to trade perpetual contracts for gold and silver in the Binance TradingFi section. $XAU $XAG
This platform supports 40 times leverage, attracting over 140,000 users to deposit funds and participate in precious metals leveraged trading. Ultimately, there were orders for 12,000 tons of silver that could not be fulfilled, with tied-up funds exceeding 13 billion.
Such platforms are typical unlicensed "private exchanges" that use physical trading as a guise to attract users to deposit funds. The platform and users engage in high-leverage precious metals betting, and ultimately, a break in the capital chain occurred when gold prices surged.
From foreign exchange, bulk commodities, to cryptocurrencies, and then to precious metals, private exchanges have always been hotspots for running away and scams. Especially whenever the market skyrockets, various private exchanges emerge one after another.
Therefore, as the prices of assets like gold and silver rise, bringing market enthusiasm, one must also pay attention to the qualifications and security of the platform when participating in trading.
Here, you can choose to trade perpetual contracts for gold and silver in the Binance TradingFi section. $XAU $XAG
