The Digital Yuan Operation and Management Center has issued a warning about three prevalent scams that misuse the name of the digital currency. The alert was published on March 13.
Scam Type One: Pyramid Schemes Disguised as "Digital Yuan Promotion" A university student, Xiao Lin, encountered an online post recruiting "national promotion agents for the digital yuan," promising zero barriers to entry and investment with commissions earned through promotion. The post claimed that recruiting one person would yield 50 yuan, encouraging more work for more pay and an easy income. After contacting the poster on WeChat, Xiao Lin was added to a "promotion group" where daily online lessons and exams were held. Members were repeatedly told that it was a state-supported project and that early joiners would profit sooner, with frequent screenshots of commission payments shown. Convinced, Xiao Lin provided her ID and phone numbers and began recruiting classmates. She only realized it was a pyramid scheme after a classmate pointed out that the digital yuan does not employ public promotion agents.
Scam Breakdown Criminals use the "digital yuan promotion" guise, luring victims with promises of high returns and exchange incentives into joining chat groups or offline meetings. Through brainwashing activities like exams and training, they encourage recruiting others to develop a downline, forming a hierarchical commission-based pyramid scheme.
Anti-Fraud Advice The digital yuan operates on a two-tier structure involving the central bank and authorized operational institutions, which along with participating commercial banks and partners, are responsible for its promotion. The digital yuan has never involved activities like recruiting public agents, holding promotion exams, requiring code downloads, or developing downlines. It has never charged a 400-yuan per device installation fee. Any recruitment for "public promotion agents" via chat groups or meetings is fraudulent.
Scam Type Two: Transfer Fraud Under the Guise of "Cashback for Task Completion" A man from Jiangsu province, Mr. Lu, registered on a platform after seeing a short video. Customer service guided him to download the Digital Yuan App and transfer money to a stranger's account to complete tasks for commissions. After receiving small commissions for initial tasks, he was offered a large task worth 30,000 yuan. Due to transfer limits on the digital yuan app, he was asked to use a bank card instead. While attempting the transfer at a bank counter, staff noticed something suspicious and alerted the police, who intervened to stop the transaction.
Scam Breakdown Scammers lure users with promises of high returns for completing tasks, tricking them into opening a digital yuan wallet and transferring funds to unknown accounts. Small initial payouts build trust before larger sums are requested. Eventually, excuses like "task incomplete" or "account frozen" are used to withhold payments and disappear with the money.
Anti-Fraud Advice As legal tender, the digital yuan is not involved in any "cashback for tasks" schemes. Legitimate promotional activities, such as consumption red packets, payment discounts, or offline subsidies, never require transfers to stranger accounts or task-based fund transfers.
Scam Type Three: Tricking Users into Downloading Fake Apps to Steal Information or Funds An office worker, Xiao Zhou, received a message on a social app claiming that clicking a link to download the "official Digital Yuan App" would grant a 200-yuan trial bonus. He downloaded an app named "Digital Yuan Official Version," entered personal details including ID number, bank card information, password, and SMS verification code, only to find his bank account emptied soon after. He then realized he had downloaded a phishing app, not the official one.
Scam Breakdown Criminals exploit public curiosity about the digital yuan, sending fake messages or posts via unofficial channels about "registering to receive trial funds" with fraudulent links. Victims are tricked into entering bank details or depositing funds into counterfeit apps, leading to theft.
Anti-Fraud Advice To download the authentic Digital Yuan App, use official channels: search "Digital Yuan" in your phone's app store or visit www.pbcdci.cn. Avoid clicking unknown links or scanning suspicious QR codes. For digital yuan red packets, only use verified channels like commercial banks, payment institutions, government platforms, legitimate e-commerce sites, or official offline stores.
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