PANews August 22 news, according to the official announcement from the cryptocurrency exchange CoinW, in response to recent media reports regarding the controversy of derivative fraud involving virtual asset management platforms, CoinW issued a statement emphasizing its position on protecting user rights and maintaining market order, and has initiated a special investigation, keeping communication with relevant authorities. CoinW stated it has a 'zero tolerance' policy for illegal activities, and if violations are confirmed, they will be dealt with according to the law and explained in a timely manner.

CoinW promises to continuously iterate its integrated compliance system, including KYC/AML/CFT systems, fund flow monitoring, anti-fraud task force, and other measures, while reminding users to beware of counterfeit information. If suspicious behavior is discovered, it can be reported through official channels. For suspected illegal activities, the platform will freeze relevant accounts and cooperate with investigations, while also holding accountable those who maliciously spread false information. CoinW will continue to publish updates on the investigation.