BlockBeats news, on May 3, according to the Economic Observer, China's Guangdong Golden Key Group collapsed in mid-April, with an involved amount of approximately 1.34 billion yuan. Chairman Lin Chunhao announced that he has fled to the UK and admitted in a 'farewell letter' that all funds have been exhausted.
The group recruited investors through financial management seminars, promising an annual return of 6%-9%, with funds used for P2P lending, stock trading, and virtual currency investments, among which the losses in virtual currency reached 68.98 million yuan. Currently, the Shenzhen Public Security Economic Investigation Department has filed a case for investigation.