Beijing Business Daily: Cryptocurrency trading is penetrating Xiaohongshu, Taobao, and Xianyu, becoming a "hunting trap" targeting ordinary people.

Odaily News The chaos of Cryptocurrency Trading draw attention is fully penetrating into mainstream platforms such as Xiaohongshu, Taobao, and Xianyu. Many contents that seem to be “lifestyle sharing”, “new user benefits”, or “product links” are essentially entrances leading to Cryptocurrency Trading groups, projects, or trading activities, brewing a meticulously planned “hunting” aimed at ordinary users. Reports indicate that common draw attention methods include: creating a “personality IP” through hot topics, setting draw attention advertisement links on the platform, and disguising as knowledge sharing, etc. Industry insiders say that a “counter-hunting battle” against the chaos of Cryptocurrency Trading is underway, but thorough governance still requires the joint efforts of regulators, platforms, and users. Previously, Pan Gongsheng, the governor of the People's Bank of China, clearly stated that it will continue to crack down on the operation and speculation of domestic virtual money, and the relevant regulatory policies since 2017 are still effective. The Central Bank will also cooperate with law enforcement agencies to maintain a high-pressure situation while continuously tracking the development trends of offshore stablecoins. (Beijing Business Daily)