Among 1,418 fake websites, "stablecoin" scams are hidden: How to identify these traps

The Cyberspace Administration of China’s latest report shows that in 2026, 1,418 illegal imitation websites were eliminated, an increase of 1.7 times compared to 2025. One noteworthy phenomenon is that scammers are beginning to use “stablecoins” and other crypto assets as new bait. This reflects the ongoing evolution of scam methods amid the popularization of cryptocurrencies, and users need to stay alert.

Imitation Websites Become a Major Scam Hotspot

According to the report from the Cyberspace Administration, the 1,418 imitation websites handled in 2026 fall into two main categories:

This growth rate warrants vigilance. The number of imitation websites increased by 1.7 times year-on-year, indicating that scammers are operating on a larger scale and with more targeted approaches.

Why Have “Stablecoins” Become a New Scam Tool

Reasons for misuse

“Stablecoins” are exploited by scammers for several reasons:

• The name sounds “stable,” easily confusing users unfamiliar with crypto assets
• Claims to be pegged to fiat currencies like the US dollar, increasing deception
• Easier to package as “financial products” compared to other coins
• Users’ limited understanding of crypto assets makes them more susceptible to scams

Typical scam process involving “stablecoins”

According to the report, these scams usually proceed as follows:

1. Imitate legitimate financial institution websites with realistic appearances 2.诱导用户下载虚假App
2. Claim that purchasing “stablecoins” can yield high returns
3. After users transfer funds, the money is directly stolen

How to Recognize These Traps

Key points for identifying imitation websites

• Check the URL: Official sites usually have official domain names; imitation sites often differ by one or two characters
• View certificates: Browsers display security certificate information; imitation sites often lack legitimate certificates
• Compare with official sites: Visit the official website directly and compare page design and links
• Be cautious when downloading: Do not download apps from unfamiliar links; only use official app stores

Caution Regarding “Stablecoin” Financial Products

• Any product claiming that “stablecoins” can generate super-high returns should be suspicious
• Legitimate financial institutions do not promote crypto assets through unfamiliar websites or apps
• If the promised returns are excessively high (annualized over 10%), it is likely a scam
• Legitimate crypto asset trading should be conducted on licensed exchanges

What Does This Reflect?

The crackdown on imitation websites exposes several issues:

• Scam methods are upgrading, beginning to leverage the hot topic of cryptocurrencies to lure victims
• Users’ understanding of crypto assets remains insufficient, making them easily confused by concepts like “stablecoins”
• The scale of online scams is deepening, with 2026’s growth rate significantly surpassing that of 2025

Summary

The Cyberspace Administration of China has eliminated 1,418 imitation websites, involving scams related to “stablecoins” and other crypto assets, indicating this has become a systemic problem. For users, the key takeaway is: any “stablecoin” financial product claiming high returns should be approached with caution. Legitimate financial and crypto asset transactions have clear channels and certifications. Staying alert and learning to identify imitation websites are the first steps to protecting your assets.