Leverage exceeding one hundred times, trading moving underground, the Waterbay gold gambling game "changes face".

In the past, only simple registration was needed to participate, but now documents like ID and bank card photos must be submitted and manually verified, a process that often takes a whole day. This is the latest barrier of entry for the Shuibei Gold "Pre-settlement Trading" platform. Two months ago, the Shenzhen Gold and Jewelry Industry Association issued a warning letter, clearly indicating that some gold companies in the Shuibei area may be engaging in illegal "pre-settlement trading". However, a investigation by First Financial found that this type of trading has not stopped, but instead continues to grow in a more concealed and complex manner. A significant change is that some platforms are no longer focusing on the "pre-settlement" concept, but instead introducing a "pricing settlement" model. After paying a deposit, users can settle profits and losses based on real-time gold prices within a specified period, without the need to physically deliver the gold. Some platforms claim that with only a 10,000 yuan deposit, users can trade gold worth about a million yuan, with a leverage ratio of nearly 100 times.