At least some of 83 tons of gold bars used as collateral turned out to be nothing but gilded copper  

Projected over $2 Billion in value. Another reason for Bitcoin.
Backed by fake gold from....yes you guessed it, China.
Trust China, what could go wrong
https://asia.nikkei.com/Spotlight/Caixin/Mystery-of-2bn-of-loans-backed-by-fake-gold-in-China