Yuan Pei Group – Aggressively Promoted Scam

The Fake Owner of the Fake Company

The Yuan Pay Group scam, perpetrated by Li Fang, is supposed a company that developed the E-Yuan. This new cryptocurrency is designed to counter Facebook’s Libra coin. According to the Yuan Pay Group sales page the E-Yuan is supported by the Chinese Central Bank. This “one of largest and most stable financial institutions worldwide”. Yuan Pay Group is also positioned as one of the first companies that will trade E-Yuan.

March 2020, mainstream media outlets reported that the Bank of China had developed basic functionality for its proposed digital currency and was in the process of legalizing its implementation. The Chinese CBDC did not implement the digital Yuan (also known as Renminbi) despite pilots being conducted in Suzhou and Shenzhen.

The Yuan Pay Group scam has been aggressively promoted today because greedy scammers have decided to take advantage of the latest developments in Blockchain technology to promote their filthy Yuan Pay Group make-rich-quick scheme. We were informed of this scheme following a complaint regarding an offshore CFD broker called “Brokerz”, who has a registered business address at St Vincent and Grenadines. Brokerz closed its doors in the meantime, but other companies have taken over to fill the void.

There are 11 Yuan Pay Group websites, and all claim to be official. These versions might differ in content or design, but all are documented scams, as we’ve already shown. These are all due to competing affiliate networks trying to get more traffic on search engines like Google and Bing. They all want you register through their websites.

Yuan Group Pay Group: Fake Review and Celebrity Endorsements

We found no testimonials for any version of the Yuan Pay Group. This is a real break from tradition when it comes to crypto scams, as scammers will make every effort to convince you to buy their service.

Fake Yuan Pay Group reviews are plastered all over the first page of Google or Bing. TrustPilot and Reddit are full of fake reviews.

Fake Forbes articles are found with fake images of Chinese billionaires, and the words “digital Yuan” and “Chinese digital money” next to them. Although the articles are authentic, the images and contents have been taken out of context and used in manipulative ways.

Our researchers also found fake articles on spoofed websites that appear to be financial-related. These fake websites are designed to mislead users and encourage them to invest in unlicensed CFD brokers. Additional celebrities who have been used in conjunction with Yuan Pay Group are Lena Meyer, Vår Staude, Wenche Andersen, Martin Lewis, Markus Lanz, Morten Harket, Carrie Bickmore, Amazon Chairman Jeff Bezos, Richard Branson, and Tesla CEO Elon Musk.

What Is Yuan Pay Group? How Does It Work?

Yuan Pay Group is promoted to be the company that founded E-Yuan. A new cryptocurrency that is backed the Chinese Central Bank, a globally recognized financial institution. We are presented with Li Fang as the founder of the project and the reason the coin has been adapted by so many people around the world. This is a fabrication. Li Fang doesn’t exist, and was created to promote the project.

Is the E-Yuan Project a Scam or Legit?

Yuan Pay Group isn’t the exclusive or sole distributor of the E-yuan. The new Chinese digital currency has nothing to do algorithmic or robot trading. However, some review websites would argue otherwise. This fake trading platform cannot buy or sell crypto contracts on the market rate because it lacks a legitimate trading engine.

This means that all the double talk about price predictions and cross-chain and intrabank transactions is just a bunch of rubbish meant to attract your attention so you register and fund an actual-money trading account at an unlicensed offshore CFD broker.

Will the E-Yuan Soon Become Very Expensive?

The scammers claim that the Chinese construction bank has expanded its trade blockchain platform and is seeking new capabilities to take over the cryptocurrency market. While Facebook’s Libra is having issues with Visa and PayPal, China’s financial institutions see a large void and are planning to exploit it. According to the E-Yuan, Libra is “the next big thing” and the “anti-Libra currency” China is using will transform financial markets.

According to con artists, the E-Yuan was under development for several years. The Chinese Central Bank controls the release date and the development roadmap. After their government-backed pier to pier currency is released and mass adoption occurs, they claim that their new coin “will make a splash” in global financial markets.

E-Yuan is not just limited to digital markets. It can also be used for everyday tasks like shopping and e-commerce-related purchases. They also mention that billionaires in China have endorsed it, and that you should get involved before it is too late. The E-Yuan, much like Bitcoin in price, will soon become extremely expensive.

Is It Expensive?

It is not free. You will need to pay at least EUR/$/£250 to get started. The money will be charged by the thieving offshore broker “brokerz” to your credit card.

Yuan Pay Group Regulation: Illegal Trading App

Financial Markets Authority New Zealand has blacklisted the Yuan Pay Group scam. The FMA clearly states in the warning that Yuan Pay Group scam promoters are using fake celebrity endorsements to mislead the public. The FMA also states that this scheme’s operators are not allowed to offer financial services or products in New Zealand. We have attached an image from this communique as a reference. The communique has been also blacklisted in Croatia by HANFA for the same reasons.

The Yuan Pay Group scam has not been regulated. It does not have a legal patent in any country in the European Union, United Kingdom or Oceania. Software developers in Australia and the European Union are granted ISO 27001 and ISO 50001.

There is also a PCI compliance check. This primarily concerns firewall configurations with respect to cardholder data, encryption protocols, and data storage. Yuan Pay Group is failing on all fronts and we have no legal address or entity to which to turn if we need to find the right answers. It is important to note that the platform does not have a regulatory license. They are not allowed to purchase or sell contracts for paying clients, manage investment portfolios or provide ancillary Forex trading services.

Yuan Pay Group Deposits & Withdrawals

It is easy to make a deposit via the broker software. You will be lied to and manipulated by them to make you happy. Try withdrawing your money and feel the difference. You won’t have the ability to cash out.

Yuan Pay Group Has No Signal Panels!

Yuan Pay Group is a type of landing page that includes text and design. It was designed to encourage you to register as a scam CFD broker. The app does not run on any genuine software or signals.

However, an app developer called “Everyone” has launched a cloned Yuan Pay Group application on Google store. The app displays news snippets along with random code that fluctuates according to specific parameters.

Limits and Payouts

For the Yuan Pay Group trading apps, the trade limits are set at EUR/$/£25 for each trade. The minimum withdrawal amount is EUR/$/£500. The withdrawal fee is EUR/$/£50. However, this is not important as you will never cash out.