CoinVoice has recently learned, according to a report by Jinshi citing Yicai, that the so-called "2% daily interest" Ponzi scheme "Xinkangjia" has collapsed, raising awareness and vigilance in society regarding new types of online fraud. Regulatory agencies have been intensively sounding the alarm.

According to incomplete statistics, since July, financial regulatory authorities in multiple regions including Guangdong, Yunnan, Hunan, Liaoning, Heilongjiang, Zhejiang, and Fujian have issued frequent warnings about the risks of illegal fundraising under the guise of "virtual currencies" and new types of online fraud. [Original link]