Xin Kang Jia DGCX Case: Recently exposed large-scale digital asset eyewash

In late June 2025, an online investment platform named XinKangJia DGCX suddenly closed all withdrawal channels, attracting widespread attention. It is reported that this incident may involve a capital scale of up to 13 billion yuan, with the number of affected individuals possibly exceeding 2 million.

The platform began operations as early as 2019 and launched the so-called "DGCX Xin Kang Jia Big Data Exchange" in May 2023, claiming to be the official branch of the Dubai Gold and Commodity Exchange in China. However, the real DGCX has repeatedly publicly denied any association with it and warned users to be cautious of counterfeit platforms.

According to the analysis of on-chain fund flows, approximately 800,000 user deposit addresses have been identified, involving a capital scale of up to 1.5 billion USD. The flow of funds shows typical characteristics of a Ponzi scheme: flowing in from a concentrated entrance and then flowing out after multiple transfers.

The project adopts a funding model of "Ponzi core + pyramid scheme structure", with the main techniques including:

1. Multi-level pyramid scheme for recruiting: Establish a 9-level structure, from class leader to commander, with incentives for promotion at each level.

2. Eyewash transactions and backend manipulation: Display false trading interfaces, actual account data controlled by the platform.

3. High returns and rebate bait: Promising returns of up to 2% daily interest, attracting investments with phrases like "recover capital in 3 days, double in 7 days."

4. Withdrawal thresholds are layered and increased: Various withdrawal obstacles are set before the crash, such as paying taxes, queuing, etc.

It is worth noting that before the platform collapsed, multiple local public security agencies and financial regulatory bodies had issued risk warnings. However, due to the platform's use of an invitation code system and offline promotion, combined with phrases like "national-level project" and "central enterprise cooperation," it still attracted a large number of elderly individuals and users from lower-tier markets to participate.

Currently, some core personnel of the platform have been controlled, and the public security authorities have sealed off some asset accounts involved in the case, freezing funds of approximately 120 million yuan.

This event serves as a reminder to investors:

• Beware of financial products that promise high returns in a short period.
• Stay away from platforms that require recommending others to make money.
• Do not blindly trust the surface packaging and promotion; focus on the fund security mechanisms and independent third-party supervision.
• Stay rational, improve financial literacy, and remain vigilant towards "seemingly beautiful" investment opportunities.

In the current complex financial environment, any platform that uses high returns as a gimmick and requires recruiting others to profit should be approached with caution.