Linyi authorities in Shandong Province issued a risk alert identifying two illegal financial schemes: the "Global Stock Exchange" and the "Savings Project" apps. The "Global Stock Exchange" project lures investors into virtual currency trading by advertising high returns, prompting officials to urge participants to exit immediately to avoid losses. The warning cites the joint notice from the People's Bank of China and other departments, which clarifies that virtual currencies do not hold the same legal status as fiat tender. Local regulators emphasized the fraudulent nature of these platforms and their potential to cause significant financial harm to unsuspecting participants.