First Financial News: The virtual currency LABUBU is not officially issued by Bubble Mart, reminding us to be alert to the risks of cryptocurrency speculation

On June 12th, PANews published an article in the First Financial Journal titled "Coin Circle Stares at LABUBU, Illegal Speculation on 'Games' hides huge risks". The article pointed out that a virtual currency called "LABUBU" has quietly gone online recently, leveraging the popularity of trendy gaming IPs, and has been listed for trading on multiple exchanges. In the early stages of its launch, the price of the virtual currency experienced a sharp rise, but then experienced a significant decline. The reporter saw on the promotional webpage that LABUBU coin is not officially issued by Bubble Mart, but is launched by a group of community driven developers. Industry insiders remind that the launch of LABUBU coin is a typical speculative behavior in the cryptocurrency circle, and its huge price fluctuations fully expose the extremely high investment risks behind it. Most of these projects are worthless, and their essence is fraud and pyramid schemes.