How did Shenzhen jeweler Jieworui manage to empty thousands of families, with a capital scale of up to 13 billion yuan? According to Tianyancha, Jiewo Rui Jewelry was established in 2014 with only 15 employees. Jiewo Rui has long referred to himself as a welfare officer and family member of Shenzhen Shuibei Jewelry Circle. Founder Zhang Zhiteng, known online as Shuibe Diamond Aten. How did he gain the trust of customers? The first step is to focus on a low price for gold processing fees - a processing fee of only 3 yuan for an ancient gold bracelet. As we all know, gold is sold by weight, and peers have to pay at least tens or even hundreds of yuan, or even thousands of yuan. From here, it can be seen that Zhang Zhiteng's business model had no intention of earning processing fees from the beginning. It was this cheap processing fee that helped him quickly open up the market and accumulate a large wave of users. In addition to processing jewelry, he also engages in gold recycling ♻️。 Customers send their gold to their company for cash, and the staff usually take unboxing and weighing videos. They are meticulous, never short of weight, and make payments quickly. Occasionally, the store also holds gold for jewelry events, which can waive processing fees. Plus, the boss occasionally appears on camera, giving users a strong sense of liveliness. With a physical store located in Shuibei, customers have no idea how to trust Jiewo Rui. The second step is to see if the time is ripe. Jiewo Rui immediately created a mini program with the slogan of 'transparent gold speculation' for everyone. You can send him the gold at home and set a price online, or you can pay a deposit to lock in the future gold price. Does that sound cool? Many people think that the boss is doing gold business with Internet thinking. It's time to show his skills! But all of this is just superficial. Zhang Zhiteng doesn't want to make a profit from the price difference between buying and selling gold, let alone work hard to earn some processing fees. He has greater aspirations and wants to become bigger and stronger, so he started playing with risky options ➕ Leverage game. Zhang Zhiteng has instructed Jiewo Rui's employees to regularly launch low or even zero processing fee gold for jewelry exchange activities. This makes customers feel that it is particularly cost-effective to keep old gold with him. What makes customers even more irresistible is that he promises to sell gold to you at a price lower than the market, or to recycle your gold at a price higher than the market. As soon as they enter and exit, the customer feels like they have made a steady profit on the price difference, as if they have earned a sum of interest. This kind of news spreads from one hundred to ten, there is such a good thing of shearing wool, not shearing white, not shearing? So they exclaimed, and everyone confidently handed over their gold and even cash to Jiewo Rui. These money and gold did not turn into gold jewelry, but gathered in a pool of funds. At the same time, Zhang Zhiteng set up an illegal private trading platform for gold and silver within the company. Users could buy and sell on his mini program like they were trading stocks, but all of these transactions were a scam from start to finish, without any links to any legitimate exchanges in any country. They were all gambling on his server. He felt that relying on his years of experience in the gold market and betting against clients, it was not something he could handle? 100% guaranteed profit without loss. However, human calculation is not as accurate as natural calculation. At the beginning of 2026, gold continued to rise, and silver soared all the way, breaking a new high of $100. Jiewo Rui shorted, but ended up with a blowout. With an unstoppable move, the domino effect fell. Many clients have been cooperating with Jiewo Rui for several years, and they never expected that Jiewo Rui would explode in the booming gold and silver market in 2026. Just a few days before the incident, many old customers sent their gold to cash in. Some people sent dozens of grams, and in the video, this big brother sent 150 grams. More than 100000 yuan is gone, and the gold is also gone. A female customer left a message saying that she and Jiewo Rui have been working together for two or three years, and she never expected that they would end up with the same pot. What's even more amazing is that most of Jieworui's clients are mothers, college students, and girls who have just started working. They are particularly used to reading guides and finding side jobs on Xiaohongshu. Jieworui has taken notice of this and has accurately hit the soft spot of this group of people with very practical packaging such as gold beans and sheep wool. Before the explosion, the staff of Jiewo Rui even said that the money had been deposited into a government regulated account, which made many people believe it to be true. No one went to verify the truth. However, as gold and silver continued to rise, the collapse came quickly and fiercely. On January 19th, during a live broadcast, the boss Zhang Zhiteng personally admitted that the company was under tremendous financial pressure and panicked Instantly spreading among the customer base, followed by a wave of bank runs. In order to alleviate the pressure of the bank run, Jiewo Rui has come up with a strange plan, where each person can withdraw 500 yuan in cash and 1 gram of gold per day. Customers who came upon hearing the news formed long queues to register in the cold wind. On January 25th, Jiewo Rui couldn't bear it anymore and issued an announcement admitting that their assets were not enough to cover their debts, allowing users to choose their own refund plan or wait for an indefinite installment repayment; Either accept a one-time settlement of the principal discount.