Brothers, who understands this? I ran into a ridiculously absurd project party in the office yesterday, it almost made me laugh out of anger. Someone claimed to be "a core figure from a certain exchange," and started saying, "We want to heavily invest in RWA," "resources and funds are all in place," "just need you to provide compliance documents," and after a whole lot of global situation and future vision talk, my colleagues were almost convinced. But I stunned him with just three questions.
#币安Alpha上新 What exactly is the underlying asset? Does it really exist?
He stammered: "The partner is responsible," "Negotiating acquisition," "The process is still ongoing"... After talking for a long time, he couldn’t even produce a property certificate or custody agreement? So you mean the tokens in my hand are made of air?
Second question: Who is this token intended for? Are you trying to promote it domestically?
He immediately jumped up: "We are a global platform!" But when I turned to look, all the materials were in Chinese, and the promotion relied entirely on WeChat groups and offline activities. The white paper clearly states "serving Chinese investors"— Come on, can you at least sort out the script before pretending to be a foreign guest?
Third question: How does the money raised come in? Is there a segregated account? Is it legal?
Now he’s completely panicked, all sorts of "technical evasion," "operator processing," "using U for transactions" popped up, but he couldn’t clarify how the funds cross borders and comply. In the end, he rolled his eyes and said I "don’t understand Web3," which made me want to slam the table: Do you understand? Why don’t you clarify the accounts?!
How are today's RWA scammers playing? They specifically target these two types of people!
Recently, it’s really noticeable; a bunch of "RWA consultants" and "chain reform experts" have suddenly popped up on Douyin, Xiaohongshu, and even offline salons. To put it bluntly, they are just harvesting the wallets of two types of people:
Small and medium-sized enterprise owners who lack funds: The moment they hear "assets on the chain can be financed," it feels like they’ve grabbed a life-saving straw, only to be tricked into paying "chain reform fees," and in the end, they find the tokens can’t be sold at all, and all the money has gone down the drain.
Entrepreneurs who want to catch the windfall: Seeing others say RWA is "Blockchain 3.0," they eagerly want to join in, only to find themselves dragged into various "ecological conferences," paying an entrance fee only to discover that the stage is filled with those wanting to issue coins, and the audience is full of those wanting to pump prices, with hardly anyone actually doing real work.
Their routines are also very fixed:
❶ First, they boast, "The U.S. is all doing RWA! Hong Kong legislation supports it!" as if not keeping up would mean losing a billion;
❷ Then they throw out a flashy PPT, something like "anchoring 500 million assets," "official approval documents," "university cooperation"—all fake;
❸ Finally, they find a few intermediary institutions to stamp their approval, create a "legal opinion letter" to show off, and deceive you into thinking "it’s about to go live on major exchanges"— but where are the assets? Where does the money come from? It’s all a muddled account!
Pitfall avoidance guide: Learn these three tricks to filter out 99% of scammers!
Sisters, remember, when encountering RWA projects, don’t listen to them blabbering about vision and technology; just ask these three questions. If they can’t answer, run immediately.
❶ Asset section: Show the real stuff!
"Is this asset existing or future?" (Existing assets are more reliable; "future assets" might just be an empty promise.)
"Do you have property certificates / equity certificates? What about the custody agreement? Dare you show me the audit report?" (Don’t believe in "the process is ongoing," you need to see the originals!)
Example: I once met someone who said they "custodied 10 buildings," but couldn’t even say where the buildings were, pure scam!
❷ Compliance section: Don’t think you can slip through the cracks!
"Who is this token sold to? Can domestic users buy it?" (As long as you promote in Chinese and pull in mainland communities, it’s a violation!)
"Is the offline salon held in the country? Is the KOL from the country?" (Don’t believe in "global platforms," wherever it lands, that’s where it’s regulated!)
Reminder: Domestic checks on illegal fundraising are very strict. Don’t think that just because they say "decentralization" it’s fine. As long as it’s aimed at unspecified people, it’s a red line!
❸ Funding section: Where does the money come from? Where does it go?
"Is the money coming from overseas? Is there a legal channel?" (ODI filing, QFLP and other compliance channels, dare you say it?)
"Is there a segregated account? Who is the custodian?" (Those saying "use U for transactions" or "operator processes" are all trying to get into gray areas!)
Real case: There was a project that said "funds are supervised by the tech team," but all the money went into personal wallets, and it could never be traced back!
Finally, I want to tell everyone: Scammers are most afraid of you being serious!
Really, these people take advantage of the fact that many don't understand the law and are embarrassed to ask questions, which is why they dare to talk nonsense. Next time you encounter someone who "talks about vision but not assets, talks globally but not about compliance," just pull out these three questions and see if they panic!
Remember: real projects are not afraid of checks; those that are afraid are all fake. Making money is not easy for us, don’t be fooled by a few phrases like "windfall" or "future". Asking one more detail or checking one more document can help you avoid a big pit!
I hope everyone can open their eyes and stay away from these "RWA scammers" and only act when encountering reliable projects!
(Forward this to friends around you who want to do blockchain, let’s avoid pitfalls together!)
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