Risk Warning: Beware of illegal fundraising in the name of 'virtual currency' and 'blockchain'. — Five departments including the Banking and Insurance Regulatory Commission
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Beijing Business Daily: Cryptocurrency trading is infiltrating Xiaohongshu, Taobao, and Xianyu, becoming a "hunting trap" for ordinary people.

2025-11-29 11:21

According to Odaily Planet Daily, the chaotic practice of redirecting users to cryptocurrency trading platforms is now permeating mainstream platforms such as Xiaohongshu, Taobao, and Xianyu. Much content that appears to be "life sharing," "newcomer benefits," or "product links" is essentially an entry point to cryptocurrency trading groups, projects, or transactions, brewing a carefully orchestrated "hunting" of ordinary users.

The report points out that common methods of traffic diversion include: building a "persona IP" through trending topics, setting up referral advertising links on platforms, and disguising themselves as knowledge sharing. Industry insiders say that a "counter-hunting war" against the chaos in cryptocurrency trading is underway, but a complete solution still requires the joint efforts of regulators, platforms, and users.

Previously, Pan Gongsheng, Governor of the People's Bank of China, clearly stated that the central bank will continue to severely crack down on the operation and speculation of virtual currencies within China, and that relevant regulatory policies implemented since 2017 remain in effect. The central bank will also maintain a high-pressure stance in conjunction with law enforcement agencies, while continuously monitoring the development of stablecoins overseas. (Beijing Business Daily)