People’s Daily published an article criticizing the traffic-driving practices involving virtual currencies such as “100x coins.”

The People’s Daily published an article titled “Disrupting the Capital Market: Beware of These Irregularities by Financial Self-Media Accounts,” which named certain accounts for disseminating false return information—such as “100x coins” and “earning millions per month from crypto trading”—to drive traffic to virtual currency trading. The article reiterated a prior notice issued by the People’s Bank of China and seven other departments, emphasizing that activities related to virtual currencies constitute illegal financial activities. It further pointed out that accounts and platforms providing traffic-driving or technical services for illegal virtual currency trading are suspected of violating laws and regulations, potentially jeopardizing financial security and anti-money laundering efforts.