Yixin-related companies are suspected of illegal activities and have been placed under investigation. Their investments have previously involved crypto projects such as Circle and Matrixport

According to the 21st Century Business Herald, the Chaoyang Branch of the Beijing Public Security Bureau reported that it has recently filed a case for investigation into the suspected illegal activities of related companies of Yixin. Currently, several criminal suspects, including the actual controllers Tang and Zhao, have been subjected to criminal coercive measures in accordance with the law.

Yixin Group had previously fully suspended the redemption of quasi-fixed income products on May 22 and issued an apology letter to relevant investors on October 11. Yixin stated that the group has incurred significant losses in multiple businesses, and the market value of asset disposal is relatively low. Preliminary findings indicate that the group may be insolvent and has a significant debt repayment gap.