She Lunkai, a notorious figure in Southeast Asian gambling fraud, has been linked to a blockchain project associated with Fincy, a BCB-based payment application. According to a report by Caixin, She Lunkai's project, "Asia Pacific New City," partnered with Singapore's BCB Innovations Limited. Fincy, promoted within this project, aims to replicate WeChat's success in Southeast Asia, offering fiat and cryptocurrency exchanges alongside online games.
Industry experts suggest that the integration of fiat and cryptocurrency exchanges with online gaming could facilitate money laundering by breaking down large transactions into smaller ones, ultimately channeling funds into gambling platforms disguised as gaming platforms. This structure potentially undermines regulatory oversight of financial flows.
Southeast Asian Gambling Fraudster's Blockchain Project Tied to Fincy Payment App
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