CoinVoice has learned that, according to the "China Consumer News", the Market Supervision Administration of Shiyan City, Hubei Province, recently issued a risk warning regarding the investigation of virtual currency projects such as "Youkechuang", "Shiyi Hui", and "Ronghui Capital". It has been found that these projects operate through overseas platforms for Cryptocurrency Trading, using a "pump and dump" model to develop members, promising high returns on investments in digital money, and are suspected of conducting illegal financial activities using pyramid scheme methods.



Regulatory authorities remind consumers to be wary of "guaranteed high returns" scams, emphasizing that China prohibits virtual currency exchange and trading intermediary services, and that participation in such projects cannot ensure the safety of funds. The case is currently under further investigation.
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