OURBIT (欧比特) is a typical case of exchange violations encroaching on user assets, with an involved amount reaching 460 million yuan, affecting nearly 30,000 investors. The platform uses "low fees, high leverage, instant withdrawals" as a gimmick, heavily promoting through social media and investment communities, targeting retail investors seeking short-term high returns.
In the early stages, the platform allows small amounts of funds to be deposited and withdrawn normally, creating a false impression of "safety and reliability" to attract users to increase their investment.
At the same time, it launched fake "mining investment" and "position rebate" activities, inducing investors to lock in large assets. Once the platform's accumulated funds reach a certain scale, it begins to reveal its true nature: first, it restricts user withdrawals under the pretext of "system maintenance" and "risk control upgrades," then significantly modifies trading rules, maliciously triggering the liquidation lines of high-leverage users and siphoning off user margins.
When some users attempt to defend their rights, they find that the platform is registered overseas, with no actual office address in the country, customer service unresponsive, and the official website taken down, making it extremely difficult to assert their rights. The core risk point of this case lies in the fact that the platform has not obtained any compliant financial licenses from any country or region and is considered an illegal virtual currency trading platform, with all its operational behaviors not protected by law.
This case warns investors that virtual currency trading itself carries extremely high legal risks, and one should not easily trust high return promises from unqualified platforms.
In the early stages, the platform allows small amounts of funds to be deposited and withdrawn normally, creating a false impression of "safety and reliability" to attract users to increase their investment.
At the same time, it launched fake "mining investment" and "position rebate" activities, inducing investors to lock in large assets. Once the platform's accumulated funds reach a certain scale, it begins to reveal its true nature: first, it restricts user withdrawals under the pretext of "system maintenance" and "risk control upgrades," then significantly modifies trading rules, maliciously triggering the liquidation lines of high-leverage users and siphoning off user margins.
When some users attempt to defend their rights, they find that the platform is registered overseas, with no actual office address in the country, customer service unresponsive, and the official website taken down, making it extremely difficult to assert their rights. The core risk point of this case lies in the fact that the platform has not obtained any compliant financial licenses from any country or region and is considered an illegal virtual currency trading platform, with all its operational behaviors not protected by law.
This case warns investors that virtual currency trading itself carries extremely high legal risks, and one should not easily trust high return promises from unqualified platforms.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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