The Cyberspace Administration of China has accepted and dealt with 61 websites impersonating financial institutions, which were suspected of inducing netizens to purchase financial products such as "stablecoins".

According to the official WeChat account of the Cyberspace Administration of China's Reporting Center, 1,418 counterfeit websites and platforms were dealt with in accordance with the law in 2025. Among them, 61 websites impersonated financial institutions such as China Merchants Securities and CITIC Bank, inducing netizens to download apps for stock trading or to purchase so-called "stablecoins" and other financial products, resulting in financial losses. The Cyberspace Administration of China's Reporting Center pointed out that counterfeit websites typically illegally collect netizens' personal information under the guise of "receiving subsidies," "recharging for consumption," "business cooperation," and "investment and wealth management," and commit fraud, infringing upon the legitimate rights and interests and property security of the people, causing significant social harm.