BlockBeats News, April 15th. The Shaoguan Branch of the People's Bank of China in Guangdong Province, in conjunction with the Shaoguan City People's Government Office, issued a joint announcement revealing illegal financial scams related to virtual currencies. The announcement disclosed the "Four Major Schemes" of currency-related fraud through multiple real cases:

1. Using the "Exchange U" part-time job to induce the public to participate in money laundering, essentially concealing and disguising criminal proceeds;

2. Engaging in illegal fundraising under the guise of overseas virtual currency "principal-guaranteed high-interest";

3. Using the name of "RWA Digital Cultural and Tourism Fund" to exploit the cognitive blind spot of new technology for speculation, hype, and fundraising fraud;

4. Using virtual currency as a medium for disguised foreign exchange transactions, suspected of illegal business operations.