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Chinese Crypto Fitness App Reportedly Being Investigated For Fraud

Ramsey Baker

Summary: Qubu, the Chinese cryptocurrency fitness app, is being placed under investigation for illegal fundraising practices and finical fraud, according to a report from the Nikkei Asian Review on Dec. 18. The Market regulator in Changsha, the capital of Hunan province, is investigating the app which promised to reward users with their digital coin “candies” in ...

Qubu, the Chinese cryptocurrency fitness app, is being placed under investigation for illegal fundraising practices and finical fraud, according to a report from the Nikkei Asian Review on Dec. 18.

The Market regulator in Changsha, the capital of Hunan province, is investigating the app which promised to reward users with their digital coin “candies” in exchange for being active. The candies could then be traded for cash or used to unlock app features.

By Ramsey Baker

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