People's Daily has published an article criticizing the chaotic state of financial self-media.

People's Daily Warns of Fake Crypto Profit Claims, Reiterates Illegality of Virtual Currency Activities

China's People's Daily has published an article warning of troubling practices among finance-focused social media accounts. The piece called out accounts that lure traffic to virtual currency trading by posting false profit claims like "100x coins" or "making millions a month trading crypto."

The article again cited a previous notice from eight government bodies, including the central bank, emphasizing that virtual currency-related business activities are illegal financial activities. It also stated that accounts and platforms that provide traffic or technical services for illegal virtual currency trading may be breaking the law and could threaten financial security and anti-money laundering efforts.