Title: Dragon Numismatic Platform Faces Allegations of Running Away, Company Responds
Radar Finance Exclusive | Mo Enmeng | Deep Sea
“We’re running away. Every feast comes to an end, and this banquet is no exception,” “The smart ones have already left, while you are still unaware and unwilling to leave,” “In the end, you’ll be left with a hefty bill for this feast, someone has to foot the bill, and this time it’s you”…
A high-profile announcement claiming that the Dragon Numismatic Platform is running away has put the platform in the spotlight. After the related screenshots went viral, Radar Finance attempted to download the Dragon Numismatic App, only to be prompted by Huawei Mall that it is a malicious app.
Dragon Numismatic Platform has issued multiple announcements on its app and community stating that the viral images were not released by the company and that they are all false fabrications created by individuals with ulterior motives to smear the platform. The company actively cooperated with the investigation on June 4th and has since resumed normal operations.
It is worth mentioning that Dragon Numismatic, which has been embroiled in the “running away” controversy, was recently reported to have received a 5 million RMB investment from iBOX. It is understood that Dragon Numismatic is a brand under Beijing Lepai Network Technology Co., Ltd., while iBOX’s parent company is Holosun Chain Xinjiang Technology Co., Ltd.
However, iBOX denied the investment in Dragon Numismatic through its official blog, stating in a lawyer’s letter that there was no such investment cooperation between Holosun Chain Xinjiang Technology Co., Ltd. and Beijing Lepai Network Technology Co., Ltd. On the afternoon of June 4th, Dragon Numismatic announced that it had no affiliation with iBox.
In addition to the aforementioned controversy, some users have filed complaints against Dragon Numismatic on the Black Cat Complaint Platform. These users reported that they were deducted money from their accounts without entering their payment passwords during transactions on Dragon Numismatic, and they are demanding refunds.
Official Announcement of “Running Away”? Dragon Numismatic Continuously Denies Allegations
On June 4th, a screenshot of an alleged announcement from the Dragon Numismatic team announcing their escape caught the attention of many netizens. According to the screenshot, the announcement was dated June 3rd and was signed by the Dragon Numismatic operating team.
The text of the viral announcement mentioned, “We’re running away. Every feast comes to an end, and this banquet is no exception. The delicacies have long been consumed, leaving only a mess. The smart ones have already left, while you are still unaware and unwilling to leave. You’re banging your bowl with chopsticks, imagining the next delicious main dish. But in the end, you’ll be left with a hefty bill for this feast, someone has to foot the bill, and this time it’s you.”
After the viral screenshot spread online, it attracted attention from the public. Some netizens commented, “Do people really write official announcements when running away nowadays?” while others mocked, “Someone has to foot the bill for the feast, luckily we don’t have the money to pay.”
Radar Finance searched for “Dragon Numismatic” on Weibo and official accounts but did not find any official social media accounts operated by the Dragon Numismatic team.
Radar Finance also visited the website shown on the viral screenshot and browsed through the recent announcement list by Dragon Numismatic. However, the aforementioned “running away” announcement was not found, and it is unclear whether the Dragon Numismatic team either never released the announcement or has since deleted it.
“Rumors end with the wise.” At 12:54 am on June 4th, Dragon Numismatic issued a clarification, responding to the viral “running away” incident. In the announcement, Dragon Numismatic stated that its popularity is evident and that the platform has not only been targeted by external teams for malicious short selling but has also faced premeditated attacks and defamation from competitors.
Dragon Numismatic revealed that the platform is currently collecting evidence with the legal department, and all the leaked chat records circulating externally are fabricated. They urged everyone not to believe them and assured that the legal department has gathered all the evidence and will take legal actions against the spreaders. Dragon Numismatic is currently operating as usual.
At 1:46 am on June 4th, Dragon Numismatic released another announcement, saying “Goodnight” and declaring that “all the short-selling and rumors cannot defeat us.”
According to information from the official Dragon Numismatic community, the platform’s administrators sent messages in a QQ group in the early hours of June 4th, stating, “Believe whatever others say, even if they don’t have a single item in their warehouse. They can spread rumors and try to short-sell. They envy the platform collapsing, but we won’t give them what they want. Those who continue to spread rumors outside, please be prepared, or you can try the strength of our legal department.”
The administrator further messaged, “I don’t understand why you’re panicking. Did the platform unplug the internet or prevent your withdrawals? You are all long-time traders on the platform, you should understand.”
It is worth mentioning that the official QQ group of Dragon Numismatic is currently under a ban on all members except for administrators, who can still send messages.
At 3:15 pm on June 4th, Dragon Numismatic released another statement denying the allegations. In the announcement, Dragon Numismatic stated that the false images circulating on the internet about Dragon Numismatic “running away” are not official and all the content is fabricated by individuals with ulterior motives to smear the platform.
Dragon Numismatic emphasized that since its establishment, the company has always consciously complied with relevant national laws and regulations. They have maintained good communication with government departments and operated legally and in compliance. Dragon Numismatic solemnly declared that it reserves the right to pursue legal responsibilities against those who spread rumors and cause trouble on the platform.
At 3:50 pm on the same day, Dragon Numismatic issued another announcement stating that the platform is fully cooperating with relevant departments’ investigation and will notify the public of the results after the investigation concludes.
Just over an hour later, Dragon Numismatic released another announcement stating that due to some individuals maliciously inciting user emotions, the company actively cooperated with the investigation today and has now resumed normal operations.
The administrators of the Dragon Numismatic official community also stated that the platform operates legally and in compliance with regulations and will not respond to similar events in the future, thanking others for their attention.
Received 5 Million RMB in Series A Financing? “Investor” iBOX: No Investment Made
According to the Dragon Numismatic App, the homepage currently displays a limited edition collection called “Indestructible” valued at 99 RMB, with 10,000 copies sold out. So, who exactly is Dragon Numismatic, which has been embroiled in the “running away” controversy?
Media reports have described Dragon Numismatic as a digital collectible platform and the operator of a national-level blockchain infrastructure backbone node. It is also the vice president unit of the Beijing Blockchain Association. Currently, Dragon Numismatic has collaborated with several partners, including China Institute of Communications, China Long March Rocket, Artron Art, Guowenju, Xi’an Museum, and iQiyi.
The reports further stated that Dragon Numismatic is expected to be launched and go online by the end of May 2024. Once launched, the platform will cover various fields of digital collectibles, including traditional Chinese art, national treasures, digital toys, and social responsibility.
It is understood that Dragon Numismatic is a brand under Beijing Lepai Network Technology Co., Ltd. According to Tianyancha, Beijing Lepai Network Technology Co., Ltd. was established on January 25th this year with a registered capital of 1 million RMB.
The company’s business scope includes digital content production services (excluding publishing and distribution), organizing cultural and art exchange activities, digital creative software development, animation and game development, internet sales (excluding licensed goods), toy, animation, and amusement product sales, art agency, art and collectible appraisal and assessment services, among others.
Equity information shows that Sun Quan and Ma Leisheng hold 99% and 1% of the shares of Beijing Lepai Network Technology Co., Ltd., respectively. Among them, Sun Quan holds the majority of the shares.The article discusses the recent developments surrounding Shenlong Shuzang, a digital collectibles platform, and its alleged investment from iBOX. It was previously reported that Shenlong Shuzang secured a 5 million RMB investment in May from iBOX, the main company behind Huoluo Siqiang Technology Co., Ltd. However, iBOX later released a legal letter accusing Shenlong Shuzang of false advertising and infringement. The article also mentions complaints from users who claimed that Shenlong Shuzang deducted funds from their bank accounts without their consent. The platform allegedly used HuiFu Tianxia, a digital payment service, for its transactions. The article concludes by highlighting the lack of clear regulations and punishment mechanisms for the digital collectibles industry in China.
