Hong Kong Police have arrested four individuals connected to a scam operated under the identity of DGCX XinKangJia. The scammers lured individuals into investing by claiming affiliation with the Dubai Gold & Commodities Exchange (DGCX).
The scammers used typical pyramid scam methods to convince individuals to invest in digital assets with low risk and a high return of 2% daily interest rate, along with money rewards for recruiting newcomers.
As with most pyramid schemes, users were convinced by seeing returns showing on the scammers’ platform. But towards the end of June 2025, victims weren’t able to withdraw their investments, and the app completely went offline on June 26.
The Hong Kong Police said they confirmed the investment platform was fraudulent as victim funds were never used for any investment. They stated, “Part of the money is believed to have been used to satisfy fellow investors’ requests for money withdrawals.”
As per blockchain security firm SlowMist, the platform transferred around 1.8 billion USDT to offshore wallets before shutting down. The security firm also added that the company had been operating under several enterprise names related to XinKangJia. It launched DGCX XinKangJia in May 2024, claiming to be “the official sub-station of the Dubai Gold and Commodities Exchange (DGCX) in China.”
In a press release from April 2025, DGCX categorically stated that it has no affiliations in China and that the “DGCX App” is not authorized or developed by the Dubai Gold & Commodities Exchange (DGCX).
In a message currently going viral, Huang Xin, XinKangJia’s Founder, after fleeing abroad, posted,“Hello, comrades! I’m now overseas. Your wealth was not equal to your intelligence, so I corrected the imbalance. Consider this a lesson and be thankful.”
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