According to ME News, on August 26 (UTC+8), well-known influencer Di Shi revealed during a live stream that he was scammed by a blockchain industry acquaintance, Sun Zeyu (founder of Genesis Capital), with whom he had been connected for eight years, suffering cumulative losses of tens of millions of yuan. He stated that he had always regarded the individual as a trustworthy friend, entrusting him to purchase cryptocurrencies such as Bitcoin and Ethereum on his behalf, and even investing in an exchange Sun operated in South Korea. Investigations revealed that some of the so-called "Ethereum" he received were likely assets from a fake blockchain specially created by Sun. The chain reportedly contained only seven addresses, six of which were linked to Sun and one to Di Shi himself. During this period, Sun was still able to legitimately cash out millions of yuan on Di Shi’s behalf, making the scam appear highly authentic. The scheme lasted eight years; had it not been discovered in time, losses could have reached hundreds of millions of yuan if cryptocurrency prices continued to rise. (Source: ChainCatcher)
Influencer Di Shi accuses blockchain figure Sun Zeyu of an 8-year scam, with losses reaching tens of millions.
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Summary
Blockchain news broke on August 26 when influencer Di Shi accused Sun Zeyu, founder of Genesis Capital, of running an eight-year scam. Di Shi claimed he lost tens of millions of dollars investing in a South Korean exchange operated by Sun Zeyu. The so-called Ethereum assets were likely from a fake blockchain, with six of seven addresses linked to Sun Zeyu. The crypto scam alert emerged as Di Shi revealed that Sun Zeyu even assisted him in cashing out millions, making the fraud appear legitimate. Had the scheme continued, losses could have reached hundreds of millions.
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