The contradiction of online loan itself determines its fate. 1. Microfinance Network was established by Hangzhou Ruituo Technology Co., Ltd. on February 20 10, and was launched on July 8, 201year, aiming at creating an online loan intermediary platform for small and micro enterprises and individuals with capital needs and investment needs. Microfinance Network is also the first P2P online lending platform in Zhejiang Province, the first online lending platform in Zhejiang Province to introduce strategic venture capital, and the first online platform in China that focuses on automobile mortgage business and has an investor supervision institution.

2. It has the following characteristics: firstly, it is an independent third party. Peer-to-peer lending platform, as an independent third-party intermediary, does not directly participate in the trading activities of borrowers and lenders, but only provides the places and related facilities needed for trading. Compared with traditional commercial banks and other financial institutions, the profit of P2P peer-to-peer lending platform mainly comes from intermediary service fees, such as cash withdrawal fees and interest management fees. Secondly, the operational risk is high. P2P platforms in peer-to-peer lending are mixed, and there have been many incidents of platform closure and running away in various places, which have caused great losses to the investment of platform investors. Furthermore, the brand effect is obvious. P2P peer-to-peer lending platform with high brand awareness can often attract more audiences with less investment in advertising fees. By 20 18, will the online loan industry appear frequently? Thunderstorm? The level of bad debts in the industry has risen rapidly, and the micro-loan network has not been spared. In this case, the media said that there have been many cases of violent collection by employees of micro-loan network? .

3. In 2020, affected by the epidemic, the loan amount and loan balance of micro-credit network were deeply impacted. In February, the micro-loan network announced that it would no longer issue new bids. The original X Zhitou investment pays the principal according to the maturity date of the breakthrough target, and the income is not paid for the time being. On May 3 1 day, Micro-loan Network officially announced that it would quit the online loan industry before June 30, 2020, and no longer operate online loan information intermediary business. This way of withdrawal makes it impossible for a large number of investors to recover their funds and is suspected of illegal fund-raising. Therefore, we must seek to protect the legitimate rights and interests of lenders to the greatest extent through legal means.