DBTC was a short-lived ICO primarily targeted at Chinese investors.

Zhang and Li Mou conceived DBTC last October, but didn’t actually launch an ICO until March 28th this year.

And what an ICO it was.

Clearly targeting gullible idiots with too much money, top DBTC ICO investors paid $478,000
each
 on the promise of a daily $12,768 ROI.

DBTC tokens were also sold at a rate of 48 cents each.

13,000 DBTC ICO investors signed up and, through the half mill package and separate token investment, collectively invested $13 million.

To convince investors from China and Cambodia that DBTC was the real thing, Zhang and Li Mou hired a token white guy to front the scheme.

DBTC’s marketing strategy saw the company claim to be a “high-tech multi-national corporation”, run by management with a “strong financial background”.

Victims cited these marketing claims as the primary reason they believed DBTC was a legitimate MLM cryptocurrency opportunity.

Not surprisingly, DBTC collapsed shortly after its March 28th launch.

This prompted complaints from investors to Xi’an police department who, following an internal investigation, rounded up and arrested nine suspects on April 15th.

HSW report Xi’an police were able to freeze 42 bank accounts but don’t state how much was recovered.

In the wake of the ICO Ponzi, Xi’an authorities have announced a “zero tolerance” crackdown on “cyber-trafficking pyramid schemes”.

N.B. 
The Chinese DBTC ICO Ponzi scheme doesn’t have anything to do with the previously launched DebitCoin cryptocurrency or Deluge Network.

🤖 Quick Answer

What was the DBTC ICO scheme?
DBTC was a fraudulent initial coin offering targeting Chinese investors, launched in March 2020 by Zhang and Li Mou. The scheme promised daily returns of $12,768 to investors paying $478,000 each, with tokens sold at 48 cents. Approximately 13,000 investors collectively lost $13 million before authorities intervened and dismantled the operation.

How did DBTC perpetrators deceive investors?
Operators employed deceptive marketing tactics, claiming DBTC was a legitimate high-tech multinational corporation managed by experienced professionals. To enhance credibility with Chinese and Cambodian investors, they recruited a foreign individual to serve as the public face of the scheme, exploiting international appearance to establish false legitimacy.

What were the financial promises of DBTC?
DBTC offered

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