Techub News reports that according to Caixin, Zhejiang businessman Qian Fenglei, in conjunction with several companies under his actual control, including Hengfeng International, is suspected of combining stablecoin investment and financing projects with secondary market operations to sell multiple collective investment schemes to the public in Hong Kong without approval from the Hong Kong Securities and Futures Commission. Thousands of people have suffered financial losses, and some individuals have reported to the public security authorities in mainland China. The victims hope that the Hong Kong Securities and Futures Commission will take the initiative to intervene and investigate. Caixin's investigation found that a large number of mainland Chinese individuals participated, with one sales group exceeding 120,000 people.