TechFlow reports, on March 16, according to an article published by Xinhua News Agency titled "Focus on 3·15 | Using AI Face-Swapping and Hype over Metaverse Investments," some criminals are using slogans such as "future currency" and "high returns" to promote fraudulent investment schemes. They fabricate trading platforms and exaggerate profit data, leading people to believe that investing in virtual currencies is a sure-win business. Once they collect funds, they manipulate the market, causing the value of these "currencies" to plummet or even shutting down the trading platforms entirely.
Some illegal actors are exploiting buzzwords like the metaverse and blockchain, hyping up related concepts such as metaverse-based game development and virtual reality. They advertise ideas like "earning money while gaming," package them as high-tech investment projects, publicly make false claims about high returns, and absorb public funds—exhibiting characteristics of illegal fundraising activities.
