[Shenzhen Economic Investigation: Beware of RWA Real Estate Tokenization Scams, Domestic Related Financing Constitutes Illegal Financial Activities] According to TechFlow News on October 19, Shenzhen Economic Investigation disclosed that recently some investors have suffered financial losses due to participating in investment scams under the guise of 'RWA real estate tokenization.' These scams are often disguised with technical terms such as 'automatic dividends through smart contracts' and 'verifiable on blockchain explorers,' luring investors into purchasing fictitious on-chain fractionalized real estate ownership. Once funds are secured, the scammers cease dividend payments and disappear. Shenzhen Economic Investigation pointed out that smart contract addresses and company registration information only prove the existence of the code and the business entity, but do not confirm the binding of underlying physical assets or indicate that the project has financial business qualifications. According to current Chinese regulatory provisions, conducting tokenized financing activities under the name of RWA within the country constitutes illegal financial activities. Virtual currencies do not have the status of legal tender, and related token issuance, financing, and speculative trading are not protected by law.