RWA has become a new disguise for fraud! Senior lawyer exposes three major fatal flaws
1. Shocking fraud scene
A core member of a certain exchange approached the Mankun Law Firm with the "RWA project," claiming to have obtained "overseas approval" and urgently needed legal documents to proceed. When asked core questions:
Asset authenticity: Claimed that "the partner is acquiring mining land" but could not provide proof of ownershipFunding path: Insisted on using "U payments to evade regulation," but all promotional channels were targeted at mainland usersTechnical endorsement: PPT presentation claimed "cooperation with Tsinghua University," but no evidence could be found
2. Three new characteristics of the RWA scam
1.Pseudo-asset packaging technique
Fabricating assets like "rare mining land," with actual value less than claimed 1/100
Falsifying agricultural product delivery rights, such as the "Maluz grape" project being exposed for using unbranded bulk liquor as a substitute
2. New type of funding model
Using a "third-generation commission" to recruit people, completely disconnected from asset value
Inducing mainland investors with the rhetoric of a Hong Kong "regulatory sandbox"
3. Technical sleight of hand
Claiming "smart contract audits," but the actual code is riddled with vulnerabilities
Using new concepts like "data asset certificates" to obscure the essence of illegal fundraising
3. Three laws to avoid pitfalls
1. Conduct thorough verification of assets
Request to see original documents like property deeds/equity registrations
Reject vague terms like "partner custody"
2. Strictly adhere to funding red lines
If a mainland project involves U transactions, it is 100% suspected of illegal fundraising
Compliance projects must establish overseas isolation accounts
3.Identify compliance endorsements
Real projects must disclose regulatory filing numbers (e.g., those that can be checked in the central bank filing system)
Be wary of false advertising like "cooperation with universities"
4. Lawyer's advice
Currently, 90% of RWA projects pose significant legal risks, and Mankun Law Firm has rejected 37 similar projects by 2025
Remember:
True RWA: Assets are traceable, returns have proof, and filings are verifiable
Fake schemes: Stories are told more than assets, promised returns exceed risks, and promotional channels outnumber technology
Blindly going solo will never bring opportunities; follow me for insights into tenfold potential coins! Top-tier primary resources! #RWA
