The second is less trivially wrong, but there's a lot of evidence against it: tests from Wuhan[0], Denmark[1], the Netherlands[2] all show very low infection rates, around 3-4%.
[0]: https://www.wsj.com/articles/wuhan-starts-testing-to-determi...
[1]: https://nyheder.tv2.dk/samfund/2020-04-17-stor-screening-vis...
[2]: https://nltimes.nl/2020/04/16/3-dutch-blood-donors-covid-19-...