Chinese authorities are conducting multiple investigations related to financial misconduct. The China Securities Regulatory Commission is investigating Zhejiang Ruifengda Asset Management for suspected illegal activities. Concurrently, local police arrested six individuals involved in using cryptocurrency to facilitate illegal forex transactions between China and South Korea, totaling approximately $300 million. These arrests are linked to an 'underground bank' that handled illegal crypto-based transactions for South Korean firms, with the total amount involved reported as $296 million. Additionally, a hedge fund firm with previously stellar returns is under scrutiny after ceasing payments to investors, amid increased regulatory focus on the $760 billion industry.