China Cracks Down on Fake Crypto Accounts Promoting Illegal Trading

China’s internet regulator, the Cyberspace Administration, has reportedly closed more than a dozen fake crypto accounts and websites accused of disseminating false information about stock and cryptocurrency markets. According to Baidu, these social media accounts were spreading unlawful stock tips and making speculative claims about virtual currency trades. Specifically, the Weibo account “Love Stocks App” and the Douyin account “Value Discoverer” were accused of sharing misleading details regarding institutional transfer arrangements, financing, and margin trading. The WeChat public account “Captain Jack Macro Strategy” circulated false rumors concerning regulatory policies on quantitative funds source: https://news.shib.io/2025/05/27/china-cracks-down-on-fake-crypto-accounts-promoting-illegal-trading/?utm_source=rss&utm_medium=rss&utm_campaign=china-cracks-down-on-fake-crypto-accounts-promoting-illegal-trading