And more importantly, Lin Feng repeatedly emphasized that any source of information must be supported by evidence and must not be fabricated. After all, Lin Feng was a person who had been harmed by rumors.
But just as Lin Feng expected, there were indeed big problems with the Xu Group.
Originally, several of their P2P Internet financial platforms had always promised slightly higher interest rates than banks. At the same time, the Xu Group invested the money in some slightly lucrative industries such as real estate from the beginning, and then began to make a lot of money, and thus gained a lot of loyal customers.
However, in recent years, real estate policies have been severely regulated, so the Xu Group has turned its attention to virtual currencies such as Bitcoin.
Also because the market continued to hype this currency, the Xu family finally decided to invest all the money collected by the platform into the virtual currency market.
During this period, the Bitcoin market suddenly changed. The value of a Bitcoin, which was originally worth 50,000 to 60,000 US dollars, dropped by nearly 50% in an instant, which directly led to heavy losses for the Xu Group.
However, due to its huge size and the continuous influx of new users, the Xu family can barely support it all.
At this time, Penguin Group got the inside information and quickly exposed it on the Internet.
After this exposure, users from all over the country began to log on to the major P2P platforms under the Xu Group to redeem their principal and interest.
Seeing this scene, the Xu Group was in complete chaos.
"Mr. Xu, what should we do? As of now, in just two hours, our P2P platform software has received a total of 20 billion yuan in redemption applications.
And we only have 3 billion left on our company's books."
At this time, the financial director of Xu Group walked into the office of Xu Ming, chairman of Xu Group, and reported anxiously.
Xu Ming, who was sitting in the office chair, was already feeling overwhelmed at the moment. He had never expected that at such a critical moment, the Penguin Group would completely expose all these things.
More importantly, what they said was indeed the truth, and I was unable to fight back by issuing statements or other means.
“If we sell all the bitcoins we currently hold, how much money can we get back?”
Xu Ming asked with a frown.
"Mr. Xu, according to the current price of Bitcoin, if we sell all the Bitcoins we have, we can get back 15 billion in funds if nothing unexpected happens.
However, the total amount of our current platforms has reached 30 billion, which means that if we sell all our Bitcoins now, not only will we not be able to fill the current hole, but we will not even be able to make up for it in the future.”
The CFO explained helplessly.
Bitcoin has fallen sharply recently, so the company's investment of more than 20 billion has shrunk by half.
Now, once these bitcoins are sold, the company will have to find a way to make up for the loss of more than 10 billion.
But once the Bitcoin is sold, what can the company use to make money and return it to customers?
Thinking of this, Xu Ming also became anxious.
"Don't worry. Return the 3 billion yuan on the books to the users in batches and try to stabilize the situation temporarily. Then I will contact Penguin Group to see what's going on with them. If they can withdraw those articles, there may be some hope."
Xu Ming also knew that the clients were just frightened, so as long as the article was deleted and he came forward to explain a little, then perhaps they would have a chance to catch their breath.
As for the lost money, as long as Bitcoin continues to rise, he will have a chance to make it back.
"Then Mr. Xu, please hurry up. I'm afraid I can't hold out for a day!"
"Get out!"
Xu Ming waved his hand, signaling the other party to leave quickly.
After the CFO left, Xu Ming anxiously called Zhang Rucheng, general manager of Penguin Group's Tianhai branch.
"Hello, Mr. Zhang, I'm Xu Ming!"
When the call was connected, Xu Ming immediately spoke in a friendly manner.
Both parties have been rooted in Tianhai City for many years, so naturally they know each other.
But at this time Zhang Rucheng's attitude was very cold.
"Well, what is it?"
"Mr. Zhang, as you know, your Penguin Group suddenly released some false news about our group today, so I hope you can intervene and remove these news first to avoid causing panic among people, right?"
"Boss Xu, you can't blame anyone for what happened to you. Your precious son is really a good person. He could have offended anyone else, but he had to offend the new head of our Penguin Group.
Plus, you guys are too bold, you raised 30 billion, and you still dared to be so arrogant despite the deficit of more than 10 billion, so you really can’t blame anyone else today.”
At this time, Zhang Rucheng also revealed his cards directly.
"What? My son offended Mr. Ma? That's impossible. Even if he had a hundred guts, he wouldn't dare to offend your Mr. Ma!"
Hearing this, Xu Ming was also shocked.
The Penguin Group is a behemoth, so he naturally doesn't dare to provoke it.
"Haha, the person in charge of our Penguin Group is Mr. Lin Feng. You should be familiar with this name, right?"
Ever since Lin Feng publicly stated that he wanted to eliminate the three major families of Tianhai, Zhang Rucheng also went to inquire about the matter privately.
Although he was not present at the charity dinner that night, the affairs of the four major families caused quite a stir in the circle, so he found out the whole story as soon as he inquired.
As a result, Xu Ming suddenly realized that it was Lin Feng who was behind everything.
But at this moment, he had no intention of taking revenge on Lin Feng, because he had been completely frightened by Lin Feng's terrifying strength.
It would be easy for Lin Feng, who controls Penguin Group and China Bank, to destroy him.
Now he has begun to think about making peace with the Jiang family and Lin Feng, but the most urgent task at the moment is to get the Penguin Group to remove the news.
"Mr. Zhang, I will personally talk to Lin Feng about this matter. How about you withdraw this news first?"