The Central Cyberspace Affairs Commission: This year, 1,418 counterfeit websites have been removed, involving the inducement to purchase "stablecoins" and other financial products

According to a report from the Cyberspace Administration of China, based on clues provided by netizens, this year, relevant departments coordinated to verify and promptly handle 1,418 illegal and counterfeit website platforms, an increase of 1.7 times compared to last year. Among them: 323 websites impersonating state-owned enterprises such as State Grid and Sinopec published false investment and recharge information, misleading netizens into purchasing virtual goods and fake recharge fuel cards, resulting in scams; 61 websites impersonating financial institutions such as China Merchants Securities and CITIC Bank misled netizens into downloading apps for stock trading or purchasing so-called "stablecoins" and other financial products, causing financial losses.