Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13284
Markets: 100679
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13284
Cryptocurrencies
62.39%
Bitcoin Share
cryptonews 2025-04-11 16:53:10

PBOC Warns Public Against Fake Digital Yuan Investment Scams

PBOC Warns Public Against Fake Digital Yuan Investment Scams

Key Takeaways: Fraudsters have used false claims to lure victims into scams involving fake promotions, phishing, and unauthorized “conversions.” Tactics include impersonating official channels, offering high-yield investments, and staging fake recruitment for digital yuan promotion. The central bank reiterated that digital yuan distribution occurs only through approved banks and platforms. The People’s Bank of China Digital Currency Research Institute has denied claims circulating online about the launch of a “Digital Yuan Bank” and related recruitment efforts, according to a report by The Securities Times published on April 11. The report states that various platforms have spread false information alleging new pilot programs in Shanghai and the hiring of digital yuan “promoters.” The PBOC clarified through its research institute that these rumors are fabricated and unrelated to any official initiative. Fraud Rings Use False Digital Yuan Narratives to Lure Victims The Securities Times investigation found that scammers have used these claims to solicit personal and financial data from the public. Promising cashback returns of up to 5%, these groups have created chat rooms and hosted in-person events to convince individuals to “convert” digital yuan through unofficial channels. The scams often involve phishing links, counterfeit apps, and fabricated investment platforms presented as part of the digital yuan rollout. Some mimic official recruitment schemes, offering commission-based promotion roles that mirror pyramid-style operations. Digital Currency Institute Outlines Four Major Scam Types In comments relayed by The Securities Times, the PBOC identified common scam tactics, including fake pilot program announcements, high-return investment pitches, fraudulent recruitment, and impersonation of authorities through scam calls. These methods have led to data theft and monetary losses. The Institute reiterated that e-CNY is a state-issued legal currency, not a speculative product, and is distributed solely through authorized commercial banks, government portals, and licensed platforms. The spread of digital yuan scams revealsunderscores a larger issue: the lack of public clarity around how central bank digital currencies (CBDCs) actually fit into the current system. Without clear lines between official use and opportunistic misuse, false narratives can take hold quickly. As more countries pilot or issue digital currencies, these risks won’t remain contained to China. The success of any CBDC will depend not just on infrastructure, but on whether the public can distinguish state-backed tools from private schemes pretending to be one. The post PBOC Warns Public Against Fake Digital Yuan Investment Scams appeared first on Cryptonews .

Most Read News

https://www.digistore24.com/redir/325658/ceobig/
Market Cap
24h Vol
62.39%
Bitcoin Share
553
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.