Loading ...https://www.zerohedge.com/news/2025-07-08/news-china-gold-platform-implodes-600-million-ponzi
“Once marketed through slick social media campaigns and aggressive affiliate networks, Yongkun attracted thousands of small investors across China by offering returns of 8–12% backed by purportedly bullion reserves. The firm’s sprawling network of regional “investment salons” and online seminars fueled the hype. But as withdrawals spiked last week, the company froze operations, triggering panic and reports of investor losses estimated near ¥4 billion (≈ $600 million).”
Might be why it took a hit today – minor panic for no reason. Always be on the look out for similar schemes.