The Beijing Business Daily recently published an article titled “Bitcoin’s Soaring Market Triggers Illegal Speculation Activities, OKX Resorts to ‘Indirect’ Marketing.” The article highlights the resurgence of speculative activities in virtual currency trading, specifically following Bitcoin’s price surpassing $30,000. Reporters from the publication discovered that platforms like OKX were running advertisements on cryptocurrency websites, offering “free Bitcoin upon registration.” Upon further investigation, they found that clicking on the ad redirected them to Okex’s trading platform, where users could register an account and undergo identity verification to purchase cryptocurrencies like Bitcoin. However, the ad had been taken down at the time of reporting. Apart from these marketing activities, scams and illegal fundraising schemes disguised as virtual currency ventures are also on the rise. In response, the People’s Bank of China has issued warnings to raise awareness about the risks associated with NFTs, metaverse speculation, and illegal financial activities in virtual currency trading. Analysts advise consumers to remain cautious, enhance risk prevention awareness, and avoid engaging in speculative activities to steer clear of illegal and criminal traps.
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