"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’s a woman who was active in the cryptocurrency space in her early years, and her presence could be seen at nationwide roadshows. She stood on stage promoting so-called thousandfold coins, and after investing in dozens of projects, she ran away with the money. It is rumored that she was also deeply involved in a love triangle with several prominent figures in the cryptocurrency space, cutting billions in profits and ultimately escaping unscathed.
When others were hiding everywhere due to leeks demanding their rights, she directly confronted the leeks and even revealed her address at a hotel abroad. Her righteous yet shameless look made me a bit respectful. Indeed, the women who can make a name for themselves in the cryptocurrency space are all queens, shining with confidence. So today, let’s talk about Sister Zhi Xin, the cryptocurrency internet celebrity who once dominated the scene, made a fortune by cutting leeks, and then ran away from the circle.
"The capital market is a bloodbath; some people look down on others. I used to be very kind, but I have been distorted by society. I am still kind now, but I am stronger now." This confession of being a kind person while cutting leeks comes from Sister Zhi Xin's Weibo video in 2019, which is one of her viral quotes. In this video, there is actually only one thing that is true: in the capital market, men and women are equal; either you are the one cutting leeks, or you are the one being harvested, only these two identities exist, and Sister Zhi Xin has undoubtedly chosen the path of cutting leeks.
Her story begins in 2015, when she was still considered an outsider. Before entering the cryptocurrency space, she was a down-to-earth and honest person, working as a manager at a beauty salon in Wuxi. However, like every successful person who has the ambition to overturn their fate, Sister Zhi Xin was not content with being a beauty salon manager. She chose to invest in a fund called postal currency cards, and after losing hundreds of thousands, in despair, she once considered committing suicide by cutting her wrists. We don't know if this experience of being 'cut as leeks' inspired her, but it made her deeply understand and realize what kind of mentality it takes to be a 'leek'.
After summarizing and perfecting the tactics of cutting leeks, she started her own journey of cutting leeks, which went exceptionally smoothly. She really became the dragon-slaying sister who turned into an evil dragon. When she first entered the circle, she had done SMT splits, a CX project, and made her first bucket of gold. This success tasted sweet, and then she engaged in many projects, basically making a profit and running away each time, but she gradually accumulated quite a bit of wealth. Just like that, she had grasped the CX method, and roadshow presentations became trivial; inflating 0 into 100 was basically a required homework for all CX investments.
Moreover, she wasn't short of money, frequently giving out red envelopes and small favors, which attracted a large fanbase. Thanks to her early entry and understanding of the benefits in the cryptocurrency space, she met many men who later became major players in the space, such as the 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 skyrocketing prices, hot money flooded into the industry. At that time, the cryptocurrency space was still a blue ocean for domestic investors.
Generally speaking, if an industry is in the early stages of barbaric growth, pigs can fly in the wind. Therefore, various so-called cryptocurrency tycoons emerged, but 99% of them are scammers. After the bull-bear market in 2022, we have not heard their names again. Sister Zhi Xin happened to be one of them. She may not have been the one who scammed the most, but she was definitely the one who was the most direct in her scams. Starting in June and July of 2017, she began to hype cryptocurrencies publicly, followed by private equity financing in July and August. In fact, she knew nothing about blockchain technology and trading; she simply didn’t care as long as she could continue making money. The so-called unity of knowledge and action is probably like this.
She brought her two years of refined CX experience into the cryptocurrency space and started doing investment outsourcing. Then, Sister Zhi Xin promoted a project called Falabai in various communities, officially beginning her journey of harvesting through investment outsourcing. At that time, Sister Zhi Xin, who was not short of money, relied on her flamboyant scams from 2017 to 2019 to complete her bloody primitive accumulation. According to incomplete statistics, Sister Zhi Xin had led dozens of projects, such as Falabai, Sanjiebao, Hero Love, etc. The so-called investment outsourcing means that the outsourcing person provides resources and channels, allowing connection to the project party to obtain chips at the lowest private equity price. Participants in the private equity only need to wire money or coins to the outsourcing person, and the outsourcing person can take a portion as commission.
Generally speaking, such investment outsourcing requires a contract, which at least provides some sense of security. However, most retail investors in 2017 did not do this. Why not? This is actually related to the environment of the bull market in the cryptocurrency space in 2017. At that time, new projects emerged daily, and once launched, the returns could be several times, dozens of times, or even hundreds of times. People are like this; the most uncomfortable part is not that they didn’t make money themselves, but that when the same opportunity is in front of them, their neighbor Lao Wang earns more than they do. To put it simply, it’s more painful to see others make money than to lose money themselves.
It was precisely because it was so easy to see others making money at that time, and every day new myths of wealth emerged, that too many people's rationality directly ran away from home. Regardless of whether the project was known or not, whether it was domestic or foreign, or what it was doing, as long as there was private equity and a chance to gamble, everyone rushed in. At that time, it seemed that people were not fighting for quotas, but for money. By the time you signed the contract, the quota would already be gone. Moreover, Sister Zhi Xin was someone who knew so many cryptocurrency big shots and had money, so she definitely wouldn’t cheat you, right? However, most people with dreams of overnight wealth were just as deeply awakened by the loudest slaps.
Let’s say, why is it that by 2022, we haven't heard of these chaotic coins? Because as early as 2017, they were already dead in the womb. Take a look at the ones led by her; Sanjiebao has long since gone to zero, and Falabai is a complete scam project that has been reported by consumers across the country. Members of the Hero Chain were arrested for fraud. Others like Sanbao Chain and Zhi Mei Chain have never even been listed on an exchange. At least for those that got listed, we can say they are air coins; if they haven't even been listed, isn’t that just pure fraud?
Among them, the funds raised by Falabai alone have exceeded 10 million. Sister Zhi Xin took at least 10% as a commission for investment outsourcing, and the investment in Hero Love was directly defined as a fraud case. The case involved over 300 million yuan, and 21 team members were criminally detained, with nine arrested. Either invest in garbage projects to earn commissions or directly embezzle the investment funds. Just like that, she branded herself with the labels of breaking and going to zero and money-grabbing.
So the question arises, how much money did she actually scam? Let’s compare horizontally, and we’ll have a rough idea. In the chaotic era of investment outsourcing, Sister Zhi Xin, the amazing girl Wang Kaixin, and the first female investor of the 90s, Li Shiqin, formed a legendary trio known as the three major tumors in the cryptocurrency space. After Li Shiqin invested in Alpha and a dozen other projects, she directly ran away with the money, with the number of Ethereum scammed reaching 140,000, worth nearly 700 million yuan at that time, claiming to be the largest investment outsourcing scam in history. Wang Kaixin sold non-existent OK coins in her friend circle, taking away over 30,000 Ethereum worth 150 million yuan directly. Based on such data, Sister Zhi Xin can stand alongside these two, at least at the billionaire level.
Until 2019, when you searched for Sister Zhi Xin online, you could still see posts asking if the major cryptocurrency scammer Sister Zhi Xin had been caught or imprisoned. It's not hard to see the destructive power and influence Sister Zhi Xin had back then. When all the air coins went to zero, investors suddenly realized they had been scammed, but they couldn’t find her at all. Sister Zhi Xin had already crazily bought villas, invested in beauty salons and coffee shops with the money she had swindled, and then disappeared. Looking at it this way, she actually stayed true to her original intention; in the end, she found out that real businesses are indeed reliable.
Of course, before running away, he also didn’t forget to shit on the leeks. After scamming your money, he would insult you. At that time, it even attracted the CEO of Sina Weibo to come and watch forcefully. It must be said that it’s truly shameless people who are invincible in this world. He casually waved his sleeve and took away countless people's hard-earned money, retreated from the circle and ran abroad, while domestic investors lost everything and had no way to defend their rights, only able to complain on Weibo. So, is this reasonable?
