Caixin: Southeast Asia's Gambling Fraud Kingpin She Lun Kai's Blockchain Project Linked to BCB-Based Payment App Fincy

Odaily News Caixin.com updated its report titled "After Twists and Turns Finally Extradited Back to China: The Sinful Life of Southeast Asia's Gambling Fraud Kingpin She Lun Kai | Past Events · Aftermath" on January 10th. It disclosed that the sole partner of She Lun Kai's blockchain project "Asia Pacific New City" is the Singapore-based blockchain company BCB Innovation Pte. Ltd. The Fincy payment software, based on the BCB blockchain, was also promoted within Asia Pacific New City, with the intention of creating a Southeast Asian version of WeChat. Fincy shares the same parent company and similar shareholder members as BCB, providing matching and exchange services for fiat and digital currencies, as well as online games. Industry insiders pointed out that by offering fiat-to-digital currency exchange and online games, it essentially introduces many unrelated participants, breaking down large funds into smaller amounts, which are ultimately aggregated into gambling platforms disguised as games. This significantly weakens the supervision of fund flows.