WeChat Security Center: Be vigilant against pyramid schemes and scams disguised as blockchain virtual currencies, stablecoins, and other names

The WeChat Security Center stated that it has recently received user complaints about certain WeChat accounts engaging in illegal activities such as organizing pyramid schemes and fraud within WeChat groups. Such activities disguise themselves under the pretense of national asset unfreezing, national policies, and engineering projects, as well as blockchain virtual currencies and stablecoins, using high returns as bait to lure users into joining WeChat groups. Within these groups, users are encouraged to invite others, post suspicious links to download fraudulent apps, engage in daily check-ins, attend meetings and courses, and other brainwashing activities, ultimately leading to fraud. These actions seriously infringe upon users' property rights.

Once such behavior is discovered and verified, the platform will take action based on relevant national laws and regulations, as well as the "Tencent WeChat Software License and Service Agreement" and "WeChat Personal Account Usage Specifications," among other platform agreements and rules. Depending on the severity of the violations, related accounts will be subject to a tiered approach to handling, with repeated offenders potentially facing permanent login restrictions, and confirmed violating WeChat groups will have their group functions disabled.