Xinhua News Agency reposts WeChat Security Center announcement: Beware of pyramid schemes and fraud under the guise of blockchain virtual currencies and stablecoins

In response to user complaints, Xinhua News Agency reposted a previous announcement from the WeChat Security Center issuing a security reminder: "Recently, the WeChat platform has received complaints from users, reporting that some WeChat accounts are engaging in illegal activities such as organizing pyramid schemes and fraud within WeChat groups, leading to permanent login restrictions."

These activities use false claims related to national asset unfreezing, national policies and engineering projects, as well as blockchain virtual currencies and stablecoins, to lure users with high returns, encouraging them to join WeChat groups. Once in the group, users are encouraged to invite others, share unclear links leading to downloading fraudulent apps, participate in daily check-ins, attend meetings and courses, and ultimately carry out fraud. These actions seriously infringe on users' property rights."

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