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The Cyberspace Administration of China disposed of 61 counterfeit financial institution websites by 2025, involving the misleading of netizens to purchase so-called "stablecoin" and other wealth management products.
BlockBeats News, January 1st, the Cyberspace Administration of China's Reporting Center revealed that by 2025, it had lawfully accepted and handled 1,418 cases of counterfeit websites, including 61 counterfeit websites of financial institutions such as counterfeit CMB Securities and CITIC Bank. These websites misled netizens into downloading apps for stock trading or purchasing so-called "stablecoins" and other financial products, resulting in financial losses.
The Reporting Center of the Cyberspace Administration pointed out that counterfeit websites usually use the pretext of "claiming subsidies," "recharging expenses," "business cooperation," "investment and financial management," etc., to illegally collect personal information from netizens, engage in fraudulent activities, infringe on the legitimate rights and interests and property security of the people, and cause significant social harm.
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