Microex Collapse Scam: AI High-Yield Investment Fraud Exposed as a Ponzi Scheme, 300,000 Victims Defrauded of Billions

Who Gets Targeted

Victims are primarily middle-aged and elderly investors aged 45 to 70, as well as cryptocurrency novices. With limited understanding of AI and blockchain technology, they were lured by claims of 'AI intelligent arbitrage' and 'annualized returns exceeding 100%.' Many were convinced by screenshots of 'successful withdrawals' shared by friends and family, mistakenly believing they had found a shortcut to wealth. Driven by greed and the fear of missing out on technological dividends, and pressured by 'mentors' in chat groups creating a sense of urgency, they invested their pensions, retirement funds, and even borrowed money without verifying the platform's credentials, resulting in significant financial losses after the collapse.

骗局怎么运作

• Packaging the AI investment concept: Microex claimed to have developed a proprietary 'AI risk control model' capable of capturing real-time arbitrage opportunities in global cryptocurrency markets, promising monthly returns of over 10%. The operations team used short videos, crypto chat groups, and offline seminars to lower user vigilance with terms like 'guaranteed profit' and 'intelligent automated trading.'
• Building trust through high-yield payouts: Initially, the platform strictly paid out daily or weekly interest as promised and allowed small withdrawals, enabling some users to successfully recover their principal and profits. 'Shills' in the groups would then post screenshots of these withdrawals to create a visible 'get-rich-quick' effect, enticing users to increase their investments and recruit friends and family.
• Developing downlines and hierarchical structures: Users were required to register via invitation codes, with promoters earning commissions ranging from 3% to 15% of their downline's investment. WeChat groups were organized into tiers like 'Team Leaders' and 'Members,' with regular 'promotion rewards' encouraging existing users to recruit new ones, forming a classic Ponzi fund pool.
• Sudden collapse and withdrawal suspension: When new capital could no longer cover the principal and interest of existing users, the platform suspended withdrawals citing 'system upgrades,' 'bank channel maintenance,' or 'market volatility.' Subsequently, customer service went silent, and WeChat groups were disbanded or muted. Large numbers of user accounts were wiped out or converted into worthless 'digital points.'
• Secondary harvesting via exchange migration: After the collapse, Microex issued an announcement claiming user assets had been safely migrated to 'Miyi Exchange,' requiring users to register on the new platform and pay an 'activation fee' or 'unlocking fee' to continue operations. In reality, the new platform also prohibited withdrawals and induced users to deposit more funds, completing a second round of theft.

红旗信号（看到这些快跑）

• 🚩 Absurdly high annualized returns: Products promising annual returns exceeding 100% or even 155% clearly violate financial logic and are typical high-yield bait. No legitimate investment can sustain such returns over the long term.
• 🚩 AI jargon without substance: The platform promoted 'AI models' and 'quantitative strategies' but refused to provide technical white papers, third-party audits, or verifiable profit histories; all information originated from internal scripts.
• 🚩 Recruitment-based compensation: The use of tokens, team commissions, and hierarchical rebates is essentially a pyramid scheme where user returns are funded by new investors' capital rather than real investment profits.
• 🚩 Funds flowing to personal or suspicious accounts: Deposits were required to be transferred to personal wallets provided by the platform or unverified corporate accounts, with no official investment certificates issued.
• 🚩 Abnormal operations before the collapse: Restrictions on withdrawals, forced lock-ups, requirements to bind to new platforms, or demands for additional fees under the guise of 'data migration' are clear signs of an impending exit scam.

真实案例

• In 2026, 'Project Resource Network' exposed the total collapse of Microex, with approximately 300,000 users' funds trapped and billions of yuan involved. Some users received notices of 'migration to Miyi Exchange,' only to find they still could not withdraw funds after completing the migration, falling victim to a second round of fraud.
• Hezhong Yuanjing TGG-X also used the 'AI illusion' of 155% annual returns to attract investors. After being exposed by the media, police launched an investigation. The platform repeatedly changed withdrawal rules before collapsing and refused payouts citing 'risk control,' leading multiple investors to report the case to local public security bureaus.
• In 2026, Shanghai police announced the dismantling of a major cross-border virtual currency underground banking case involving over 20 billion yuan. The criminal gang used virtual credit cards and USDT to facilitate fund transfers for overseas platforms. Many users were drawn into illegal financial chains through 'high-yield investments,' resulting in frozen accounts and unrecoverable losses.

Official Stance

• In 2026, according to public reports, public security authorities in a certain region formally opened an investigation into Hezhong Yuanjing TGG-X for suspected fundraising fraud and summoned key personnel, warning the public to be wary of illegal financial activities under the guise of AI. (Source: Shouma Alliance)
• In August 2026, the Shanghai Public Security Bureau's Economic Crime Investigation Department announced the crackdown on a major cross-border virtual currency underground banking case involving over 20 billion yuan, reminding citizens to use formal channels for foreign exchange and investment, as no virtual currency payment platform is authorized with a financial license. (Source: NetEase News)
• The Anti-Fraud Network issued an emergency warning in 2026, naming platforms like 'Zhuolian Jinzhi' for employing a 'harvesting + withdrawal ban + recruitment-to-unfreeze' triple-threat tactic, advising investors to identify such patterns, withdraw immediately, and involve the police.

How to Protect Yourself

• ✅ Verify credentials before investing: Check official corporate credit disclosure platforms to see if the company is registered and holds a payment business license from the central bank or a fund sales license from financial regulators. Treat unlicensed crypto payment platforms as high-risk and investigate shareholder structures and administrative penalty records.
• ✅ Do not be tempted by high returns: Remember that 'if the annualized return exceeds 6%, be cautious.' Any AI investment that guarantees principal safety while promising ultra-high returns is almost certainly a scam. Refer to the 'Risk Warning on Illegal Fundraising in the Name of Virtual Currency' issued by the National Internet Finance Association of China.
• ✅ Refuse to recruit others: If a project requires you to develop downlines or pay based on team recruitment, exit immediately. Such models are not protected by law, and participants may be identified as organizers or accomplices in pyramid schemes, facing criminal liability.
• ✅ Preserve evidence and report to the police: Once you find you cannot withdraw, save transfer records, chat logs, app screenshots, and the platform's claimed profit statements. Report the case immediately to the local public security bureau's economic crime investigation department or call 96110. Never pay any fees to a 'migrated' new platform to avoid secondary losses.