<ul class="list-ic vertical">
 <li><span>1</span> <a>Xiaojin suggested that cryptos have become a common ground for illegal activities.&nbsp;</a></li>
 <li><span>2</span> <a>Scammers create professional-looking websites or platforms that appear similar to the original ones.</a></li>
</ul>
<p>In 2021, the PBoC officially announced measures to fight against crypto adoption in mainland China, pushing for stronger inter-departmental coordination to crack down on crypto activity in the country.</p>
<p>Despite the ban covering virtually all crypto transactions and cryptocurrency mining, mainland China has been a significant crypto-mining hub.</p>
<h2 class="wp-block-heading" id="strong-ssp-takes-action-against-crypto-scams-strong"><strong>SSP Takes Action Against Crypto Scams</strong></h2>
<p>China’s highest prosecutorial authority, the Supreme People’s Procuratorate (SPP), is targeting criminals who use blockchain and metaverse projects for illegal activities as it aims to combat increasing cybercrimes. The SPP is concerned about the rise in online fraud, cyber violence, and personal information infringement.</p>
<p>Xiaoyan has highlighted that internet theft charges have risen by almost 23%, while charges related to online counterfeiting and sales of inferior goods have surged by nearly 86%.</p>
<p>Xiaojin has pointed out that new cybercrimes are emerging through blockchain, <a href="https://www.thecoinrepublic.com/2024/02/14/stock-markets-today-us-market-slips-after-the-cpi-inflation-data/" target="_blank" rel="noopener noreferrer nofollow">metaverse</a>, binary options platforms, and digital currencies. These cryptos have become a breeding ground for these illegal activities.</p>
<h2 class="wp-block-heading" id="strong-crypto-scam-how-the-scammer-fools-you-strong"><strong>Crypto Scam: How The Scammer Fools You?</strong></h2>
<p>Like most financial scams, crypto scams work through manipulation. The fraudsters prey on their victims’ trust, lack of knowledge, and desire for quick profits, or sometimes all three.</p>
<p>In any crypto scam, the scammer presents a compelling offer, such as significant, easy returns or exclusive opportunities. They may pose as insiders with information on a revolutionary new crypto service, new crypto markets offering promotions for first-time users, or even use the tried and true romance scam to exploit trusting victims who had never considered using crypto.</p>
<p>Scammers create professional-looking websites or platforms that appear legitimate at first. These websites often use persuasive language to convince users of their credibility. However, they are usually packed with malware that can steal personal information or digital currency from the victim outright.</p>
<p>Scammers often impersonate well-known individuals, influencers, or reputable projects to gain trust. Sometimes, they allow victims to withdraw actual money to gain trust. The goal is to keep them engaged in the scam to increase their final fraud payout.</p>
<h3 class="wp-block-heading" id="strong-avoiding-scams-strong"><strong>Avoiding Scams</strong></h3>
<p>To avoid cryptocurrency scams, Users should ignore job listings for cash-to-crypto converter or <a href="https://www.thecoinrepublic.com/2024/02/14/stock-markets-today-us-market-slips-after-the-cpi-inflation-data/" target="_blank" rel="noopener noreferrer nofollow">crypto</a> miner openings and scrutinize claims about explicit material. A scammer may claim to have information about users that they threaten to post unless users send cryptocurrency. It is a blackmail scheme, so report it. Lastly, do not accept “free” money or crypto, as nothing is free.</p>
<p>Users are also requested to never give out private keys or engage with investment managers promising quick profits. Avoid clicking on suspicious links, contacting scammers, or sending them money. Also, be cautious of unknown “celebrities” reaching out to buy cryptocurrency.</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion&nbsp;</strong></h3>
<p>Crypto scams are becoming increasingly common and the people who are losing money are usually retail investors who invest in the crypto world for quick gains. These investors do not understand that if something is too good to be true, it usually isn’t. China’s Supreme People’s Procuratorate is targeting cybercriminals who use blockchain and metaverse projects for illegal activities.</p>

China’s Prosecutorial Authority Takes Action Against Crypto Scams

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