Chinese Regulators told users that the metaverse can be “deceptive” and they could lose money if they don’t realize the risks.
After the removal of cryptocurrency trading and mining in the country last year, the Chinese government’s next subject of criticism has been metaverse projects and the scams surrounding them.
China’s Banking and Insurance Regulatory Commission February 18 He issued a statement warning against fake metaverse projects. In the shared statement, people’s hard-earned scammers stealing coins and collecting illegal money He said they made it their primary target.
Several used to profit illegally using the Metaverse different way in the aforementioned paper, the most common form artificial intelligence and virtual reality He stated that there are projects that say that they provide high technology integration such as He said these projects attract people and then make them lose their money.
Another common form is that scammers say we’re making a game, and to your local token high by investing promising profit, escaped without letting them withdraw money He stated that they have play to win projects. He also said that some scammers are trying to induce panic buying by exaggerating the real estate in the metaverse.