Ningbo Intermediate Court: "Taohuayuan NFT" suspected of conducting illegal financial activities under the guise of digital collectibles investment
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Ningbo Intermediate Court: "Taohuayuan NFT" suspected of conducting illegal financial activities under the guise of digital collectibles investment
The Ningbo Intermediate People's Court's official account issued a notice urging vigilance against speculation in the "Taohuayuan NFT" digital collectibles. The article stated that at the beginning of the year, a digital collectible called "Taohuayuan NFT" entered our city and was promoted through online publicity and offline gatherings, allegedly conducting illegal financial activities under the guise of digital collectible investments. The "Taohuayuan NFT" digital collectible is issued by Hong Kong Hengfeng International Holdings Limited and promoted via its developed instant messaging app "FoChat." This digital collectible is traded using virtual currencies such as Tether (USDT) and has so far released 8,888 units. On July 28, 2025, the Hong Kong Securities and Futures Commission included it in its alert list for suspicious investment products.
Navigating Web3 tides with focused insightsTechFlow news, on September 16, the Ningbo Intermediate People's Court official account issued a warning urging vigilance against speculation in "Taohuayuan NFT" digital collectibles. The article stated that earlier this year, a digital collectible named "Taohuayuan NFT" entered our city and was promoted through online publicity and offline gatherings, allegedly conducting illegal financial activities under the guise of digital collectible investments. The "Taohuayuan NFT" digital collectible is issued by Hong Kong Hengfeng International Holdings Limited and promoted via its developed instant messaging app "FoChat." This digital collectible is traded using virtual currencies such as Tether (USDT) and has so far released 8,888 units. On July 28, 2025, the Hong Kong Securities and Futures Commission included it in its alert list for suspicious investment products.
