“I can turn your 10,000 into 100,000, 100,000 into 1 million, 1 million into 3 million, and 3 million into 10 million.” There was this girl who used to be active in the cryptocurrency circle; you could see her at roadshows nationwide, promoting so-called hundredfold coins. After proxy investing in dozens of projects, she made off with the money and was rumored to be involved in multiple love affairs with big shots in the cryptocurrency space, raking in over a billion, and in the end, she managed to escape unscathed. While others were hiding everywhere due to victims defending their rights, she directly confronted the victims and even disclosed her address at a hotel abroad.
Her appearance, righteous yet shameless, truly makes me feel a bit in awe. Indeed, the women who can make a name for themselves in the cryptocurrency circle are all queens, shining with confidence. So today, let's talk about Sister Zhixin, the cryptocurrency internet celebrity who once ruled the scene, made a fortune cutting down victims, and has now escaped the circle.
“The capital market is a knife edge, and some people look down on others. I used to be very kind, but this society has twisted me. I am still very kind now, but I am stronger.” This statement, while I cut down victims, I am a kind-hearted good person, comes from Sister Zhixin's video on Weibo in 2019, and it is also one of her viral quotes. In this video, only one sentence is correct: in the capital market, men and women are equal; you are either the one cutting down victims or the one being harvested, there are only these two identities, and Sister Zhixin, of course, chose the path of cutting down victims without hesitation.
Her story has to start from 2015, when she was still considered an outsider. Before entering the cryptocurrency circle, she was an honest person, working as a manager in a beauty salon in Wuxi. But just like every successful person has the ambition to overturn their fate, Sister Zhixin was not content with being a beauty salon manager. She chose to invest in a project called postal currency, and after losing hundreds of thousands, in despair, she once contemplated suicide by cutting her wrist. We don’t know if this experience of being cut down inspired her, but it made her deeply understand and realize what it feels like to be a victim.
After summarizing and perfecting the tricks of cutting down victims, she began her own journey of harvesting victims, and it went particularly smoothly. Indeed, that dragon-slaying sister ultimately became an evil dragon. When she first entered the circle, she started with SMT splitting, a CX project, and earned her first pot of gold. This success made her taste the sweetness, and then she did many project deals, basically making a profit and running away, but gradually accumulated considerable wealth. Just like that, she mastered the CX tricks; roadshow presentations were easy, turning 0 into 100 was basically a must-have skill for all CX investments.
Moreover, she was not short on money, spreading small red envelopes and small favors everywhere, bringing in a lot of fans. With the benefits of entering and understanding the cryptocurrency circle early, she got to know many men who later became big players in the cryptocurrency space, such as Martian and Bill from Bill Capital. By 2017, she officially entered the project circle, and her harvesting methods became increasingly wild and unrestrained. 2017 was the previous bull market for Bitcoin, and with Bitcoin's surge, hot money flooded into this industry. At that time, for China, the cryptocurrency circle was still a blue ocean.
Generally speaking, if an industry is in the early stage of wild growth, even a pig can fly in the wind. Therefore, various so-called big shots in the cryptocurrency circle made their appearances, but 99% of them were scammers. After the bull-bear market cycle in 2022, we never heard of their names again, and Sister Zhixin was exactly one of them. She might not be the one who scammed the most, but she was definitely the one who did it most directly. Starting in June and July of 2017, she began to hype coins loudly, followed by private placement proxy investments in July and August. In fact, she knew nothing about blockchain technology or trading; she didn’t care at all, as long as she could keep making money. The so-called unity of knowledge and action was probably like this.
She brought her two years of honed CX experience into the cryptocurrency circle and started proxy investments. Then she promoted a project called Farra Coin in various communities, officially starting her journey of harvesting through proxy investments. At that time, she was not short of money and relied on her flamboyant scams from 2017 to 2019 to complete a bloody accumulation of wealth. According to incomplete statistics, she led dozens of projects, such as Farra Coin, Sanjiebao, and Hero Chain, etc. The so-called proxy investment means that the proxy investor provides resources and channels to contact the project party and obtain chips at the lowest private placement price. Participants in the private placement only need to transfer money or coins to the proxy investor, who can take a portion of the commission.
Generally speaking, this kind of proxy investment requires a contract, which at least gives you some sense of security. However, most retail investors in 2017 would not do this. Why is that? It actually has to do with the environment of the bull market in the cryptocurrency space in 2017. New projects were emerging every day, and once they launched, the returns could easily be several times, dozens of times, or even hundreds of times. People are like this; the most painful thing is not that they didn't make money, but that the same opportunity is in front of them. Their neighbor, Old Wang, is making more money than they are. To put it bluntly, watching others make money is even more painful than losing money themselves.
It was precisely because it was so easy to see others making money that a wealth myth was born every day, which made the rationality of too many people run away from home. It didn’t matter if they had heard of the project or not, whether it was domestic or foreign, or what it was about; as long as there was private placement, they would go all in. That's why proxy investments were so popular at that time. In that environment, it seemed that everyone was fighting for money, not quotas. By the time you signed the contract, the quota was long gone. Moreover, what kind of person is Sister Zhixin? She knows so many big shots in the cryptocurrency circle and has money, she surely wouldn’t lie to you, right? However, most people with dreams of getting rich overnight were deeply awakened by the loudest slap.
So why is it that by 2022, we haven’t heard of any of these once-messy coins? Because they had already died in 2017. Look at those led by her; Sanjiebao has long gone to zero, Farra Coin is a complete scam project, reported by consumers nationwide seeking justice, and members of Hero Chain were arrested for fraud. Others like Sanbao Chain and Zhimei Chain have never even been listed on an exchange. At least those coins that made it to the exchange can be called air coins; if you never even made it to the exchange, isn’t that pure fraud?
Among them, the funds raised for Farra Coin alone have exceeded 10 million. Sister Zhixin received at least 10% in proxy investment fees, and the proxy investment in Hero Chain was directly defined as a fraud case. The amount involved in the case reached over 300 million, with 21 people in the team detained and nine arrested. Either invest in junk projects and earn proxy fees, or directly abscond with the investment funds for proxy investment. Just like that, she attached labels of crashing and zero value to herself through these simple and brutal operations.
So the question arises: how much money did she actually scam? Let’s make a horizontal comparison to get a rough idea. During the chaotic era of proxy investment, Sister Zhixin, the magical girl Wang Kaixin, and the first post-90s investor Li Shiqin debuted together, known as the three major tumors in the cryptocurrency circle. After proxy investing in Alpha and a dozen projects, Li Shiqin directly absconded with the money, having defrauded 140,000 Ethereum, worth nearly 700 million yuan at the time, claiming to be the largest proxy investment fraud case in history. Wang Kaixin sold non-existent OK coins in her circle of friends, absconding with over 15 million yuan worth of more than 30,000 Ethereum. Given such data, Sister Zhixin can certainly be ranked alongside these two, at least as a billionaire.
Until 2019, if you searched for Sister Zhixin online, you could still see posts asking if the major cryptocurrency fraudster Sister Zhixin had been caught or imprisoned. It's not hard to see the destructive power and far-reaching influence Sister Zhixin had back then. When all the air coins went to zero, investors suddenly realized they had been deceived but couldn’t find her at all. Meanwhile, Sister Zhixin had already crazily bought villas and invested in beauty salons and coffee shops with the money she scammed, escaping without a trace. It seems she remained true to her original intention, discovering that in the end, the real industry is reliable.
Of course, before he ran away, he didn’t forget to take a dump on the investors. He deceived your money and then scolded you for wanting to defend your rights. It even attracted the attention of the CEO of Sina Weibo to come and observe forcefully. I have to say, it's truly shameless, invincible in the world. He waved his sleeves and took away countless people's hard-earned money, retreated overseas, while domestic investors were left with nothing, without any avenue for defending their rights, only able to complain on Weibo. Tell me, is this reasonable?
