The XinKangJia scheme's collapse has left millions in financial distress, prompting investigations into its Ponzi and money laundering operations.
The XinKangJia scheme, which falsely presented itself as a stablecoin investment platform, has collapsed, impacting over 2 million victims with their assets now frozen. Founder Huang Xin allegedly transferred 1.8 billion USDT to new addresses shortly before the platform's failure. Authorities have arrested 37 team leaders and frozen over 120 million yuan in assets, revealing a complex operation involving Ponzi schemes and cross-border money laundering.