Warning on Notable Fraud Operations Using the Digital Yuan Name

Recently, the Shanghai Regional Office of the People’s Bank of China issued a serious warning to the public and investors to protect them from an organized scam ring operating under the guise of “digital yuan promotion.” This scam network’s modus operandi begins with attracting targets on social media and messaging platforms through enticing promises and false news.

Trap Mechanisms Used by Scammers

Criminal organizations pose as “digital yuan promoters” or “official representatives” to lure innocent citizens into online groups. After membership, individuals are offered so-called “certification exams” and “income boosting courses.” These structures are designed to gradually push participants into pyramid schemes and multi-level marketing scams. Initially, participants start with minimal investments and are gradually encouraged to invest larger sums.

Official Statement from the Central Bank

The People’s Bank of China explicitly emphasizes that the digital yuan is never marketed for speculative purposes under any circumstances, does not include a repayment mechanism, and no one is involved in “promoter exams” or similar practices. While referencing international standards for the proper management of digital currencies, such as (Hong Kong currency practices), it states that official digital currencies are never promoted through unofficial marketing channels.

Concrete Protection Recommendations for the Public

Citizens are advised to take the following steps to protect themselves: avoid clicking on links from unknown persons, refrain from joining “private groups” or channels under the name of digital yuan, and do not respond to contacts related to “member recruitment” or “promoter activities.” Additionally, promises of “high and guaranteed returns” or “quick wealth” should raise suspicion when considered unreasonable.

If such a scam is encountered or witnessed, it is crucial to report immediately to the nearest police station or authorized law enforcement agencies, and to gather documents and evidence without delay.