The Shaoguan Branch of the People's Bank of China and the Shaoguan Municipal Government Office jointly issued an announcement revealing illegal financial traps related to virtual currencies.

The announcement discloses four major schemes involved in cryptocurrency scams through multiple real cases:
First, using "U exchange" part-time誘導 to encourage the public to participate in money laundering, essentially disguising and concealing criminal proceeds;
Second, engaging in illegal fundraising under the banner of offshore virtual currency "capital preservation with high interest";
Third, using the "RWA Digital Cultural Tourism Fund" as a guise to exploit technological knowledge gaps for speculative trading and fundraising fraud;
Fourth, using virtual currencies as a medium to conduct disguised foreign exchange transactions, suspected of illegal business operations.