PANews On June 12, China Business News published an article titled "The cryptocurrency circle is eyeing LABUBU, and there are huge risks behind the illegal speculation of "games". The article pointed out that a virtual currency called "LABUBU" has been quietly launched online recently with the help of the popularity of trendy IPs, and has been listed for trading on many exchanges. In the early days of its launch, the price of the virtual currency once rose sharply, but then fell sharply.

The reporter saw on the promotional webpage that LABUBU coin was not officially issued by Pop Mart, but was launched by a group of community-driven developers. Industry insiders reminded that the launch of LABUBU coin is a typical speculative behavior in the currency circle, and its huge price fluctuations also fully expose the extremely high investment risks behind it. Most of these projects are worthless and their essence is fraud and pyramid schemes.