China Banking and Insurance Regulatory Commission: Preventing illegal fundraising in the name of “Metaverse”

According to the China Banking and Insurance Regulatory Commission’s news on February 18, some lawbreakers have recently rubbed off on hot spots and absorbed funds in the name of “Metaverse Investment Project” and “Metaverse Chain Tour”, suspected of illegal fundraising, fraud and other illegal and criminal activities. The China Banking and Insurance Regulatory Commission will take relevant Tips on methods and risks:

1. Fabricating false Metaverse investment projects . Some criminals stir up concepts such as game production, artificial intelligence, and virtual reality related to the Metaverse, fabricate high-tech investment projects with numerous packages, publicly and falsely publicize high returns, and take the opportunity to absorb public funds. and other characteristics of illegal behavior.

2. Fraud under the banner of the Metaverse blockchain game. Some criminals bundle the concept of “Metaverse”, claiming “making money while playing games”, “short investment cycle and high returns”, and tricking participants into investing by exchanging virtual currency and purchasing game equipment. Such games are highly confusing, and there are risks such as running away with money.

3. Maliciously hyping Metaverse real estate to make money. Some lawbreakers use the concept of Metaverse hotspots to exaggerate the expectation of virtual real estate prices rising, artificially create the illusion of panic buying, and induce hoarding and trading.

4. In disguised form, engage in the illegal profit-making of Metaverse virtual currency. Some criminals claim that the virtual currency issued is the future “Metaverse currency”, inducing the public to buy and invest. Such “virtual currency” is often the spontaneous air currency of criminals, which mainly makes illegal profits through behind-the-scenes means such as manipulating prices and setting withdrawal thresholds.

The China Banking and Insurance Regulatory Commission stated that the above activities are under the banner of “Metaverse”, which is more attractive and deceptive, and participants are prone to property losses. The public is requested to enhance their awareness of risk prevention and identification capabilities, and beware of being deceived. If you find clues about suspected violations or crimes, please actively report them to the relevant local authorities.

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