Strict Regulation of Cryptocurrency Trading in China
Since 2013, the Chinese government has maintained a strict regulatory stance on virtual currency trading activities. Departments such as the People's Bank of China (PBOC) have repeatedly issued notices, clarifying that virtual currencies like Bitcoin do not possess monetary attributes and prohibiting financial institutions from providing related trading services. Particularly in 2021, the People's Bank of China (PBOC), in conjunction with multiple departments, further emphasized that virtual currency-related business activities are illegal financial activities, strictly preventing and dealing with risks associated with virtual currency trading and speculation. This means that there are currently no legitimate "domestic Bitcoin trading platforms" within mainland China. Any platform claiming to offer such services may face legal risks and pose potential asset security threats to users.
Amber Hopoo Platform Status and Risk Warning
Regarding user inquiries about the reliability of the "Amber Hopoo platform," based on public information as of August 10, 2026, the platform exhibits significant risk signals:
- Website Activity and Owner Information: ScamAdviser gives hopoo.co a "medium" trust score and notes that the website "appears to be inactive," meaning its owner may no longer be actively using it. Furthermore, the website owner has hidden their identity information, which is often a common characteristic of high-risk platforms.
- Listed on Scam Lists: "Hopoo" or its variants (e.g., "Hopoo mq7fh.hnwstsc.com/zfkec") have been listed as reported scam companies by multiple scam tracking websites in June and August 2026.
- Lack of Transparency: Although the platform claimed in 2023 to be a "global leading financial derivatives service platform" and stated it held a US MSB digital currency license and provided multiple security measures, these claims contradict current third-party assessment results. Public information lacks reliable data on trading volume, market capitalization, team background, and other key information, making it impossible to verify the authenticity of its claims.
In summary, the Amber Hopoo platform exhibits typical high-risk characteristics, including opaque operations, unknown owner identity, and being listed on scam warning lists. Given China's strict regulation of virtual currency trading and the inherent risks of the Hopoo platform, users are advised to remain highly vigilant regarding such platforms and avoid participating in any form of trading activities to prevent potential asset losses and legal risks.
How to Learn About Cryptocurrencies in a Compliant Manner
For global readers, understanding cryptocurrencies should be done through compliant and transparent channels. Users should choose regulated and reputable trading platforms within their own jurisdiction and fully understand the volatility and potential risks of the cryptocurrency market. In all cases, asset security and compliance should be prioritized.
