Wuhan China , 1 October 2020 : Crowd of people wearing surgical face mask on the 2020 China national day and first day of golden week holidays in Jianghan pedestrian road in Wuhan Hubei China

Xiongan New District in China raise alarm on Digital Yuan Fraud

The local government and Central Bank branch of the Xiongan New District, China, have issued a stern warning to residents about cybercriminals using the digital yuan.

In an official statement released on Thursday, local authorities told residents to be alert and take caution when needed.

“It is hoped that the general public will increase their awareness of prevention and protect their own property.” The announcement read.

RELATED: Binance to blacklist Chinese Yuan and users in Mainland China

NEWSBSC Digital Yuan

The district reminded citizens that the digital yuan is still in the testing phase, urging them to access their digital wallets only through authorized channels.

Xiongan New District also advised residents to beware of fake web platforms and messages and criminals presenting themselves as government officials to ask for sensitive, valuable information.

Earlier this month, the Chinese police arrested a group of suspects for reportedly scamming a woman in Cambodia for $47,000 using e-CNY.

NEXT: Acala emerge as winner in Polkadot’s inaugural parachain auction

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

Check Also


EU MPs Attack Amazon’s Participation in Digital Euro Project

A cross-party coalition of members of the European Parliament on Tuesday came under fire at …

Leave a Reply

Your email address will not be published.