Cyberspace Administration will shut down 61 counterfeit financial institution websites in 2025, involving inducing netizens to purchase so-called "stablecoins" and other financial products.

2026-01-01 02:44:26

Foresight News Report: The Cyberspace Administration of China’s Reporting Center announced that in 2025, it legally accepted and handled 1,418 cases of counterfeit and fake website platforms. Among them, 61 involved counterfeit websites of financial institutions such as China Merchants Securities and CITIC Bank, which induced internet users to download apps for stock trading or purchase so-called “stablecoins” and other financial products, resulting in property losses.

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