According to CoinMeta, Ma Xuejun, the controlling shareholder and actual controller of Beiqingsong, was fined 11.8419 million yuan for manipulating the securities market and was banned from entering the market for 5 years. Ma Xuejun had previously been placed under investigation for suspected securities market manipulation and received a "Prior Notice of Administrative Penalty" in June 2026. According to the decision issued by the China Securities Regulatory Commission (CSRC), Ma Xuejun and six others were fined a total of 40.4731 million yuan, including 11.8419 million yuan imposed on Ma Xuejun himself, for their involvement in manipulating the "Beiqingsong" securities.