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Radar money is not credible. It's a fraud
As early as 2014, VPAL was exposed as a new type of pyramid scheme in the guise of cryptocurrency. It swindles money by means of viral pyramid scheme and people's ignorance of cryptocurrency. Just in 2018, VPAL, which is now radar coin, made a comeback on the list of MLM organizations of CCTVon December 13, 2019, the Economic Investigation Brigade of Wudalianchi Public Security Bureau, together with the instrial and commercial administration department of food and Drug Administration Bureau, jointly executed the law and banned the illegal propaganda and trafficking of "radar money" pyramid scheme. The investment project uses the online "radar currency" trading and the purchase of virtual currency to obtain high profit return as the t to attract hair exhibition personnel and absorb funds on the Internet. Its behavior is suspected of pyramid selling, which needs high attention and vigilance
on September 4, 2017, seven ministries and commissions jointly issued the announcement on preventing the financing risk of token issuance. The announcement explicitly prohibited all kinds of token issuance and financing activities
extended information:
no organization or indivial is allowed to illegally engage in token issuance and financing activities
token issuance financing refers to the so-called "virtual currency" raised from investors by the financing subject through the illegal sale and circulation of tokens. In essence, it is an unauthorized illegal public financing behavior, which is suspected of illegal sale of token tickets, illegal issuance of certificates, illegal fund-raising, financial fraud, pyramid schemes and other illegal criminal activities. There are
customs departments will closely monitor the relevant developments, strengthen the cooperation with judicial departments and local governments, strictly enforce the law in accordance with the current working mechanism, and resolutely control the market chaos. If suspected crimes are found, they will be transferred to judicial organs
the token or "virtual currency" used in token issuance financing is not issued by the monetary authority, has no monetary attributes such as legal compensation and compulsion, does not have the same legal status as currency, and cannot and should not be used as currency in the market
All kinds of token issuing and financing activities shall be stopped immediately from the date of announcement. The organizations and indivials that have completed the token issuance and financing shall make arrangements such as refund, reasonably protect the rights and interests of investors, and properly handle the risks. Relevant departments will seriously investigate and deal with the activities of token issuance and financing that refuse to stop and the illegal behaviors in completed token issuance and financing projects