In Beijing, the prosecution was in jail after operating more than 140 million Bitcoin frauds, more than $ 140 million in a short video platform.
According to a white paper published by the PEOPLE’s PEOPLE ‘Sprocuratorate of the Haidian District, this is one of the most complex anti -counter cases treated between 2020 and 2024. It started with a simple bonus approval within the company, which has been changed to a year’s plan to hide the stolen funds behind the Shell Company and the digital currency.
All of my rich people opened loopholes.
Based on the report, an employee named FENG had solo control on the service provider’s on boarding, bonus qualifications and payment approval.
He quietly adjusted the bonus policy to create the interval that only the two external helper, the bath, and Yang could be exploited. Fake documents have been introduced with personal data leaked.
Then TRIO reduced the bonus payment with a MADE -UP account instead of rewarding the actual work. When auditors found missing cash, almost 140 million comforts have already disappeared.
Fake company and laundry chain
The gang used a shell company without actual operation. YANG has ordered WANG and others to establish about 10 of these papers.
What they did is collect fake bonus payments. There, the funds jumped across several bank accounts until they landed in the hands of the sheep. Feng ordered the next step. Convert it to Bitcoin.
They divided the loot on eight other international platforms, mixed coins, shook the trading trail and hid the origin of money.
Authorities track the bitcoin flow
The LI TAO test of the Haidian’s SCIENCE and Technology Crime Division has created a detailed map of fraud. By comparing company data logs, bank records and blockchain transmissions, his team removed each concealment class.
They recovered more than 90 Bitcoins during the investigation: accurately proved how the “closed loop” washing chain worked. Each recovered coin was tied to the stolen reward and confirmed all the twisting of the money path.
The sentence considered the role of each person. Feng was the longest term for 14, six months to six months, and the other seven were sentenced to imprisonment between three and 14 years.
All were convicted of professional embezzlement. This case acts as a warning. Even when one person has too much power, even a daily bonus system can be a large car of a big fraud, and modern encryption tools cannot guarantee anonymity forever.
Chart of TradingView, the main image of Unsplash
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