In China, playing with virtual currencies on your own is not illegal, but it is unprotected and you bear the risks and rewards yourself!

If you open a trading platform in China, issue virtual currencies, or help others develop related software, it is illegal. Therefore, any events where someone recommends a coin in China, claiming they can get rich quickly or have already become rich, are all scams and illegal.

Among virtual currency issuance and trading, especially note that we just mentioned issuance. The management measures also state that institutions and individuals are not allowed to issue virtual currencies or facilitate virtual currency trading. How to understand this? If you play on your own without issues, but someone recommends you to trade on XXX exchange, it is considered providing facilitation. Teaching you how to trade also counts as providing facilitation. If their profits are based on your losses, it can be defined as fraud. (For example, calling signals to trap retail investors, leading trades to earn commissions, or guiding you to trade through false advertising)

Please all crypto enthusiasts protect your accounts and improve your awareness of risks. There are no free lunches in the world; being guided or exploited is all due to your own greed. Only through continuous learning, improving your skills, and consistently trading profitably is the right path.