雷达财经 Exclusive | Author: Momo Alliance | Deep Sea
“We’re running away. There’s no never-ending feast in the world, and this feast has come to its final moment.” “Smart people have already quietly left after having their fill, while you, oblivious, still refuse to leave.” “In the end, what awaits is the enormous bill for this feast, for someone always has to foot the bill, and this time it’s you.”…
A high-profile screenshot of a rumored announcement declaring that the digital collection platform, Shenlong Shu Cang, is running away has put it in the spotlight. After the screenshot spread further on the internet, Radar Finance tried to download the Shenlong Shu Cang app and found that Huawei Mall directly flagged it as a malicious app.
Shenlong Shu Cang has released multiple announcements on its app and social media, stating that the circulated image was not officially released and that all the content is fabricated falsehoods created by individuals with ulterior motives, with the intention to smear the Shenlong Shu Cang platform. On June 4th, the company actively cooperated with the investigation and has now resumed normal operations.
It’s worth mentioning that Shenlong Shu Cang, which has been involved in the “running away” controversy, was recently reported to have just received a 5 million RMB investment from iBOX. It is reported that Shenlong Shu Cang is a brand under Beijing Lepai Network Technology Co., Ltd., and the main company behind iBOX is Huoerguos Chainjiang Technology Co., Ltd.
However, iBOX denied the news of investing in Shenlong Shu Cang through its official Weibo account. In a letter from its legal representative, iBOX stated that after verifying with Chainjiang Technology Co., Ltd., there was no such investment cooperation between Chainjiang Technology and Beijing Lepai Network Technology Co., Ltd. On the afternoon of June 4th, Shenlong Shu Cang released an announcement stating that the platform has no affiliation with iBox.
In addition to the aforementioned controversy, some users have filed complaints against Shenlong Shu Cang on the Black Cat Complaints platform. These users reported that they were deducted money without entering their payment password during transactions on Shenlong Shu Cang, and they are now requesting a refund from the platform.
Official announcement of “running away”? Shenlong Shu Cang repeatedly denies it
On June 4th, a screenshot of an announcement from Shenlong Shu Cang’s team declaring that they are running away caught the attention of many netizens. According to the circulated screenshot, the announcement was allegedly released on June 3rd, and it was signed by Shenlong Shu Cang’s operation team.
The text of the circulated announcement mentioned, “We’re running away. There’s no never-ending feast in the world, and this feast has come to its final moment. The delicacies have long been eaten, leaving only a mess all over the floor. Smart people have already quietly left after having their fill, while you, oblivious, still refuse to leave. You’re tapping your bowl with chopsticks, fantasizing and eagerly awaiting the next delicious main course. But in the end, what awaits is the enormous bill for this feast, for someone always has to foot the bill, and this time it’s you.”
After the circulated screenshot spread on the internet, it drew attention from the public. Some netizens left comments, saying, “Do people who run away nowadays really write announcements so seriously?” and others jokingly said, “Someone has to foot the bill for the feast, luckily we don’t have the money to pay.”
Radar Finance searched for the keywords “Shenlong Shu Cang” on Weibo and its official public account, but has not found any official social media accounts operated by Shenlong Shu Cang’s team.
Radar Finance also browsed the recent announcement list on the website displayed in the circulated screenshot. Currently, the “running away” announcement mentioned above has not been found, so it is unclear whether Shenlong Shu Cang’s operation team never released the announcement or has already deleted it.
“Rumors stop with the wise.” At 12:54 a.m. on June 4th, Shenlong Shu Cang released a clarification announcement responding to the circulated “running away” incident. In the announcement, Shenlong Shu Cang stated that its popularity is evident, as the platform has not only been maliciously attacked by external teams but has also been subjected to planned and deliberate attacks and defamation by rival businesses.
Shenlong Shu Cang revealed that the platform has now joined forces with its legal department to gather evidence, stating that all the circulated chat records and other related documents are fabricated. They urge everyone not to believe them. The legal department has collected clear evidence and will take legal action against the spreaders. Shenlong Shu Cang is currently operating normally.
At 1:46 a.m. on June 4th, Shenlong Shu Cang published another announcement titled “Goodnight Announcement,” stating, “All the shorts and rumors cannot defeat us.”
Through the official social media community of Shenlong Shu Cang, Radar Finance learned that in the early morning of June 4th, the community’s administrators sent messages in the QQ group, saying, “You believe whatever others say, even though they don’t even have a collection in their warehouse. They can spread rumors and try to short the platform as much as they want. They’re just jealous and want the platform to collapse. If they continue spreading rumors outside, they should be prepared to face the legal power of our legal department.”
The administrator later sent another message saying, “I don’t understand why you’re panicking. Did the platform unplug the internet or stop you from withdrawing? You’re all long-time Shenlong Shu Cang investors, so you should understand.”
It’s worth mentioning that the official QQ group of Shenlong Shu Cang is currently under a ban on all members and only administrators can send messages.
At 3:15 p.m. on June 4th, Shenlong Shu Cang once again released a clarification announcement. In the announcement, Shenlong Shu Cang stated that today, false images have appeared on the internet claiming that “Shenlong Shu Cang is running away.” They emphasized that these images were not officially released and that all the content is fabricated falsehoods created by individuals with ulterior motives, with the intention to smear the Shenlong Shu Cang platform.
Shenlong Shu Cang emphasized that since its establishment, it has consciously complied with relevant national laws and regulations, maintained good communication with government departments, and operated legally and in compliance. Therefore, Shenlong Shu Cang solemnly declares that it reserves the right to hold accountable those who have recently spread rumors and caused trouble for Shenlong Shu Cang.
At 3:50 p.m. on the same day, Shenlong Shu Cang released another announcement, stating that the platform is currently fully cooperating with relevant departments’ investigation and will notify the public of the results after the investigation concludes.
Just over an hour later, Shenlong Shu Cang released an announcement stating that due to some individuals maliciously stirring up user emotions, the company actively cooperated with the investigation today and has now resumed normal operations.
The administrators of Shenlong Shu Cang’s official social media community also stated that the platform is operating legally and in compliance and that they will no longer respond to similar incidents. They thanked their colleagues for the attention given.
Received 5 million RMB Series A funding? “Investor” iBOX: No investment made
According to the Shenlong Shu Cang app, the homepage currently displays a limited edition collection called “Indestructible” valued at 99 RMB with a total of 10,000 copies, all of which have been sold out. So, what exactly is Shenlong Shu Cang, which has been involved in the “running away” controversy?
Some media outlets have introduced Shenlong Shu Cang as follows: It is a digital collection platform and also a backbone node of the national-level blockchain infrastructure, as well as the deputy chairman unit of the Beijing Blockchain Association. As of now, Shenlong Shu Cang has partnered with various collaborators, including the China Academy of Information and Communications Technology, China’s Long March Rocket, Yachang Art Network, Guowenju, Xi’an Museum, and iQiyi.
The report also mentioned that the Shenlong Shu Cang platform is expected to be released and launched at the end of May 2024. After the launch, the platform will cover various fields of digital collections, including Chinese art, significant national achievements, digital trends, and social responsibility.
It is understood that Shenlong Shu Cang is a brand under Beijing Lepai Network Technology Co., Ltd. According to Tianyancha, Beijing Lepai Network Technology Co., Ltd. was established on January 25th of 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 cultural and creative software development, animation and game development, internet sales (excluding sales of licensed goods), toy, animation, and amusement supplies sales, art agency services, art and cultural relics appraisal and evaluation services, etc.
The 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.Not only is he the legal representative of the company, but he is also the beneficiary, actual controller, and controlling shareholder of the company, and holds positions as executive director, manager, and financial officer in the company.
In May of this year, Cai Xun Net reported that Shenlong Shucang held an A-round financing signing ceremony in Beijing and received a 5 million RMB A-round financing.
The report mentioned that this round of investment was exclusively invested by HolosChain Technology Co., Ltd., the main company of iBOX, a leading platform for digital collectibles. In other words, Shenlong Shucang received a 5 million RMB investment from iBOX.
Tianyancha shows that HolosChain Technology Co., Ltd. was established in May 2021 with a registered capital of 5 million RMB. Its subsidiary iBox Chain Box is an e-commerce platform specializing in digital collectibles, dedicated to building a leading domestic digital IP asset management institution.
The funds obtained by Shenlong Shucang through this financing will be mainly used for team layout, strengthening market expansion and business operations, increasing investment in product design and research and development, deepening the integration of digital cultural assets into the real economy and the metaverse, and other core business layouts.
At that time, the person in charge of Shenlong Shucang said, “We are very pleased that Shenlong Shucang has received attention and recognition from the leading platform iBOX. The addition of iBOX will help Shenlong Shucang better embrace the metaverse, Internet 3.0, and other innovative opportunities, accelerate and extend its business layout, realize the mutual promotion of technology and culture, and achieve deep integration with the real economy. It will help Shenlong Shucang become a benchmark enterprise in the industry.”
However, “iBox Chain Box” later posted a “Legal Letter on False Advertising and Infringement by Shenlong Shucang” on its official blog, along with a lawyer’s letter. Beijing Yingke Law Firm, entrusted by HolosChain Technology Co., Ltd., specifically appointed a lawyer from the firm to send a solemn letter regarding the infringement of the rights and interests of Chainbox Technology Co., Ltd. by Beijing Lepai Network Technology Co., Ltd.
According to the lawyer’s letter from Beijing Yingke Law Firm, on May 10, Beijing Lepai Network Technology Co., Ltd. published news such as “Shenlong Shucang received 5 million RMB financing from iBOX” on websites such as “China.com”.
However, after verifying with Chainbox Technology Co., Ltd., it was found that Chainbox Technology Co., Ltd. did not have the above-mentioned investment cooperation with Beijing Lepai Network Technology Co., Ltd. and did not invest in it. The link text and image announcement published by Beijing Lepai Network Technology Co., Ltd. are all false, which has caused extremely adverse effects on Chainbox Technology Co., Ltd.
The lawyer’s letter stated that, given the above facts, Beijing Lepai Network Technology Co., Ltd.’s behavior has seriously infringed on the legitimate rights and interests of Chainbox Technology Co., Ltd. It requires the other party to immediately delete the text and image announcements published on related websites and issue a clarification announcement on the relevant websites to clarify the content of the link. The clarification announcement should be kept for no less than 7 days to eliminate the adverse effects. At the same time, a written apology should be made to Chainbox Technology Co., Ltd.
In addition, according to Tianyancha, as of now, Shenlong Shucang has not received any financing.
On the afternoon of June 4th, Shenlong Shucang issued a statement stating that the news circulating online about “Shenlong Shucang receiving 5 million RMB financing from iBOX” is false and fabricated. Shenlong Shucang has no affiliation or investment relationship with iBOX. Shenlong Shucang also emphasized that anything not announced through official channels is fake.
Shenlong Shucang faces complaints from users due to unauthorized deductions
As a newly emerging form of digital asset, digital collectibles have gained rapid popularity in recent years. According to information from Baidu Baike, digital collectibles refer to unique digital credentials generated for specific works of art using blockchain technology. Based on the protection of their digital copyrights, they achieve real and trustworthy digital issuance, purchase, collection, and use.
Thanks to the popularity of digital collectibles, more and more digital collectible platforms have emerged. However, in recent years, there have been numerous complaints related to digital collectibles. Searching for the keyword “digital collectibles” on the Hei Mao Complaints platform yields over 3100 related results as of the time of writing.
As the protagonist of this “runaway” storm, Shenlong Shucang has also received complaints from some netizens on the Hei Mao Complaints platform. When searching for the keyword “Shenlong Shucang” on the Hei Mao Complaints platform, there are currently over 50 related results.
In June of this year, several netizens complained on the Hei Mao Complaints platform that they had participated in transactions on the Shenlong Shucang platform operated by Beijing Lepai Network Technology Co., Ltd. However, during the actual transaction process, the users’ wallets were directly deducted from their bank cards without entering a payment password. Therefore, these users requested a refund from the platform.
It is worth noting that many of the complaints related to Shenlong Shucang mentioned HuiFuTianXia, as they claimed that the wallet used by the Shenlong Shucang platform was HuiFuTianXia. According to the official website of HuiFuTianXia, it was established in June 2006 and is a leading digital payment company in China, aiming to provide platform services for corporate collection, data integration, and fund management.
Currently, HuiFuTianXia serves industries such as business groups, internet platforms, chain formats, cross-border expansion, metaverse, and micro-enterprises. It partners with hundreds of well-known SaaS/software companies, commercial banks, and hundreds of thousands of channel service providers to provide one-stop digital solutions, including multi-channel fund management, data management, intelligent reconciliation, chain procurement settlement, payment platform, electronic invoices, digital rights, and cross-cloud IaaS integration.
On the evening of June 4th, the administrator of Shenlong Shucang posted a message in the official community stating that some users have reported occasional payment risk controls. In order to continuously optimize user experience and enhance the platform’s product strength, the platform has now connected with a second third-party payment provider to meet user needs.
The official account of Hei Mao Complaints also posted a Weibo stating that they have noticed the complaints related to Shenlong Shucang. The post said, “Recently, the operation announcement of Shenlong Shucang has attracted everyone’s attention. Users have also reported similar issues on the Hei Mao platform, stating that they were charged without entering a payment password. We have seen the announcement of the platform’s closure on June 3rd. We will continue to monitor the actual situation.”
In the comments section below this Weibo post, Hei Mao Complaints provided a link for users to participate in collective complaints. As of the time of writing, 33 people have participated in the collective complaint.
It is worth noting that in the comments section of this Weibo post by Hei Mao Complaints, there are also comments from netizens stating, “They impersonated the Xi’an Shadow Puppet Museum to sell collectibles. I have been cheated out of 1700 RMB. The whole platform is a scam, pure scam platform.”
Radar Finance noted that in response to the rumors related to the Xi’an Shadow Puppet Museum, Shenlong Shucang also issued a statement on its app on June 4th.
Shenlong Shucang stated that the platform has never publicized any cooperation between Shenlong Shucang and the Xi’an Shadow Puppet Museum, and the platform has never used the Xi’an Shadow Puppet Museum as a gimmick to “guide” users to purchase collectibles. The puppet series collectibles sold by Shenlong Shucang are created by Hanhuang Studio, and the related copyrights belong to Shenlong Shucang and Hanhuang Studio, with no affiliation to the Xi’an Shadow Puppet Museum.
Xu Hong, a deputy director of Zhejiang Buning Law Firm and a representative of the Zhejiang Provincial People’s Congress, pointed out in a media interview that at present, China has not formed clear legal regulations regarding various transaction rules, technical service support, and violation punishment based on digital collectibles. The regulation and standardization of digital collectibles supervision are still in a blank stage, which has led to a significant increase in the number of petitions when inappropriate behaviors occur in the digital collectibles industry.
With multiple negative news surrounding Shenlong Shucang, what fate will it face in the future? Radar Finance will continue to monitor the situation.
