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Overseas large-model token agent industry is rapidly gaining popularity, but governance and regulation pose challenges

MarsBitNews
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Since 2026, tokens have become a buzzword in the market. Behind this frenzy, the overseas large-model token proxy industry—built on low-price reselling of token quotas and setting up transit nodes—has surged rapidly. Recruitment ads for all kinds of “zero-threshold side gigs” have proliferated across multiple online platforms, and they have also achieved explosive growth through multi-level profit-sharing mechanisms. A reporter’s investigation found that this gray industry, which operates along the edge of compliance, appears to offer low-cost overseas large-model access channels for individual creators, small and micro enterprises, and research groups, but in reality there is widespread chaos: some transit nodes profit improperly through methods such as falsifying billing, swapping models, and refund arbitrage, leaving users’ input data nearly “naked” during transmission. Because operations are covert, the cross-border nature is prominent, and the operating model iterates quickly, the industry is becoming a major challenge for regulatory governance. Industry experts say that only by closing the gap in lawful supply and demand, establishing a normalized, tiered governance mechanism, and promoting upgrades to domestic large-model technologies and services can we force gray industries to clear out and help the sector move toward compliant, standardized development. (Securities Times)
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