Economic Observer: Yuzhi Financial-related virtual asset projects have been exposed to limited withdrawal, and risk warnings have been issued in many places

According to the Economic Observer, Yuzhi Financial, which is dressed as a "virtual asset documentary transaction", was exposed to be suspected of using high returns as a gimmick to attract investors. Recently, its virtual asset trading app "HSEX" was reported by many investors that it could not withdraw cash normally. The platform then required users to pay 20% of the total account "self-certified margin" and raised the withdrawal fee from 10% to 30%. Previously, the Office of the Joint Conference on Preventing and Combating Illegal Financial Activities in Xinyi City, Guangdong Province, the Office of the Leading Group on Preventing and Combating Illegal Financial Activities in Yulin City, Guangxi Zhuang Autonomous Region, and the Financial Affairs Center of Shigu District, Hengyang City, Hunan Province have all issued relevant risk warnings. The Hong Kong Stock Exchange also officially disclosed that Yuzhi Finance and its related HSEX and HKEX have been listed on suspicious websites for many times and have no connection with the Hong Kong Stock Exchange. Industry insiders pointed out that such projects have no physical operation support and are characterized by high-yield promises and head-pulling rebates. Investors are reminded to be vigilant against the temptation of high returns in the field of virtual assets and prevent illegal financial risks.