The China Cyberspace Administration (CAC) announced that 12,000 social media accounts that promote cryptocurrencies and attract investors have been blocked.

According to the regulator, information about “easy money in digital assets”, mining and cross-border currency speculation was spread through Weibo, Baidu, Tieba, WeChat and other platforms.

The agency also removed 51,000 articles and restricted access to 105 crypto-related websites. Authorities met with more than 500 commercial organizations engaged in speculative activities.

According to the CAC, the blocking was carried out by the Chinese authorities due to a ban on cryptocurrency trading. At the same time, most of the accounts, articles and websites are blocked after the “tip” of users.

The CAC will continue to work with other institutions to “suppress illicit financial activities related to cryptocurrencies.”

“We remind social media users to post the right investment concepts, warn investors about risks, and not speculate in virtual currencies,” the regulatory statement said.

Recall that in June the WeChat communication system introduced a ban on secondary trading of NFTs, and also announced “penalties” for accounts related to trading cryptocurrencies.

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