On June 27, Chinese media outlet Beijing Business Daily published an article titled “Rising Bitcoin Market Triggers Illegal Speculative Activities, OKX It resorts to ‘indirect’ marketing.”

Reporters at the Beijing Business Daily noted a resurgence in speculative activities related to virtual currency trading, after the price of Bitcoin surged above the $30,000 mark.

Reporters observed that platforms such as OKX were running ads on certain cryptocurrency websites, offering “Free Bitcoin upon signup.” Upon further investigation, the reporters found that clicking on the ad would redirect them to the Okex trading platform. Users can register an account and undergo identity verification to proceed with the purchase of cryptocurrencies such as Bitcoin. However, at the time of reporting, the ad had been withdrawn.

In addition to the illicit marketing activities of exchanges, scams and illegal fundraising schemes masquerading as virtual currency companies continue to proliferate. In response to this, the People’s Bank of China recently issued warnings titled “Beware of Risks Related to NFTs and Metaverse Speculation” and “Say No to Illegal Financial Activities in Trading Speculation of Virtual Currency (Cryptocurrencies or Digital Assets). )”. Analysts believe that consumers should remain vigilant, enhance risk prevention awareness, and actively stay away from speculative activities such as virtual currency trading to avoid falling into related criminal and illegal traps.