The Cyberspace Administration of China announced that it has shut down 1,418 fake websites this year, which were involved in inducing users to purchase "stablecoins" and other financial products.

The Cyberspace Administration of China reported that 1,418 counterfeit websites were investigated and dealt with this year, an increase of 1.7 times year-on-year. These websites involved the State Grid Corporation of China, financial institutions, and others, and induced investment fraud, resulting in financial losses for netizens.