Beijing Business Daily: Cryptocurrency trading is infiltrating platforms like Xiaohongshu, Taobao, and Xianyu, becoming a "hunting trap" for ordinary people.

The chaotic practice of redirecting users to cryptocurrency trading platforms is infiltrating 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 "hunt" for ordinary users. The report points out that common methods of redirection include: building a "persona" through trending topics, setting up referral advertising links on the platform, and disguising it as knowledge sharing. Industry insiders say that a "counter-hunt" against the chaos of cryptocurrency trading is underway, but a complete solution 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 the relevant regulatory policies 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 overseas stablecoins. (Beijing Business Daily)