⚠️ Shenzhen Warns Against Fake Stablecoin & Crypto Fundraising Schemes

[etfs]

Authorities in Shenzhen, China have issued a fresh warning about illegal fundraising operations disguised as stablecoin and cryptocurrency investments.

What Officials Are Saying

The city’s anti-illicit finance task force flagged unlicensed groups promoting digital asset schemes.

These outfits often use crypto jargon to mislead the public and push speculative investments.

Behind the scenes, many are fronts for:

Fundraising scams

Online gambling

Fraud & pyramid schemes

Money laundering

Officials warned:

Losses from such schemes will not be reimbursed.

Under Chinese law, participants may also bear personal liability for financial losses if they join illegal fundraising.

🧠 “Adopt a Rational Investment Mindset”

The government urged citizens to:

Avoid believing grand promises of easy returns.

Stay vigilant against misleading crypto promotions.

Report suspicious fundraising schemes to local authorities — with informants potentially eligible for rewards.

Quote from the official alert:

“We urge the public to adopt a rational investment mindset, refrain from blindly believing grandiose promises, establish a correct understanding of money and investment, and stay vigilant to avoid being deceived.”

Context: Fake JD.com Stablecoins

The warning follows a surge of fake JD.com stablecoin promos across Chinese social media.

Fraudsters posed as affiliates of the e-commerce giant, offering counterfeit tokens to lure sign-ups.

JD.com clarified on June 30 that it had no connection to these scams.

Ironically, JD is itself exploring stablecoins — it announced on June 18 that it plans to apply for a Hong Kong stablecoin license.

Takeaway

With China’s strict stance on domestic crypto activity, scammers are capitalizing on confusion to push fake stablecoins and fundraising traps. The Shenzhen warning underscores that in China, investors face not only financial losses but also potential legal liability if they fall for unlicensed fundraising schemes.

[Maxwell]

Important alert! These Shenzhen warnings are a reminder that not all “crypto opportunities” are what they seem — especially when tied to familiar brands like JD.com.

[Nahiar806]

The legal risk angle is key: in China, participating in unlicensed fundraising can carry personal liability, not just financial loss. That’s a serious deterrent. ️

[rafihasan]

Great takeaway: stay rational, verify sources, and report suspicious schemes. Scammers love to exploit hype around stablecoins and big-name brands — vigilance is the best protection. ️

[Nahid10]

The scariest part is not just losing money — in China, victims can even face legal liability for joining these illegal fundraising schemes. Scammers win twice: they take your cash AND leave you exposed to punishment.