[The Cyberspace Administration of China Lawfully Handles 61 Counterfeit Financial Institution Websites Involved in Inducing Netizens to Purchase 'Stablecoins' and Other Financial Products] Odaily Planet Daily reports that, according to the official WeChat account of the Reporting Center of the Cyberspace Administration of China, as of 2025, a total of 1,418 counterfeit websites and platforms have been lawfully handled, including 61 counterfeit websites of financial institutions such as China Merchants Securities and China CITIC Bank. These websites were used to induce netizens to download apps for stock trading or to purchase so-called 'stablecoins' and other financial products, resulting in financial losses. The Reporting Center of the Cyberspace Administration of China pointed out that counterfeit websites often illegally collect personal information from netizens under the guise of 'receiving subsidies,' 'recharge and consumption,' 'business cooperation,' or 'investment and wealth management,' engaging in fraudulent activities that infringe on the legitimate rights, interests, and financial security of the public, causing significant social harm.