What does Wanchain Blockchain do (Is the Wanchain trading platform legitimate)?

What does Wanchain Blockchain do?

According to official introduction, Wanchain is a distributed, decentralized global financial application platform. It was jointly initiated and supported by China Wanchain Holdings Limited (Citex Capital), Baidu Super Chain, and other enterprises, aiming to build a new financial ecosystem and business form. (WanXiang Research Institute)

Is the Wanchain trading platform legitimate?

Is the Wanchain trading platform legitimate? What is its relationship with Huobi, OKEx, and other exchanges? Who is the “operating entity” of Wanchain? Where is it registered? Are there any relevant legal issues?

According to Tianyancha, on April 18th of this year, a certain blockchain project was suspected of running away, and then team members were taken away by the police for investigation. Within the following three months, the project transferred over 200 million yuan to personal wallet addresses (which cannot be recovered at present). After verifying the identity of the investor, it was found that the above-mentioned fraud gang is suspected of illegal fundraising and MLM. In addition, investors have issued risk warnings against Wanchain: The staff of the Wanchain trading platform previously stated, “If we want to know the real situation of Wanchain and how to handle this matter, we need to contact our customer service.” In response to this, they stated, “I don’t think this is my complaint and it doesn’t affect my judgment.”