An employee of a short video platform defrauded the company of 140 million yuan in bonuses and used virtual currency to launder money

Bitget App

Trade smarter

Cointime2025/07/27 19:40

By:Cointime

On July 27th, according to People's Daily, the Haidian District People's Procuratorate of Beijing released the "White Paper on Anti-Commercial Corruption Prosecution Work (2020-2024)", revealing a commercial corruption case involving 140 million yuan.

In the case, an employee of a short video platform company, Feng, colluded with external suppliers to fraudulently obtain company rewards totaling 140 million yuan through false application materials. To conceal the source of the funds, Feng instructed accomplices to use 8 overseas virtual currency trading platforms to exchange the stolen money in batches for bitcoins and other virtual currencies, and used "coin mixing" technology to confuse the trading path to launder the money.

Through electronic data review, the prosecution built a "triple flow integration" evidence system and successfully recovered more than 90 bitcoins. In the end, Feng and 7 others were sentenced to three to fourteen years and six months in prison for embezzlement.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

The article discusses the credibility crisis of fiat currencies and the potential of cryptocurrencies as an alternative store of value. It analyzes the impact of the U.S. debt problem on the credibility of the U.S. dollar and explores the transformative role of blockchain technology. Summary generated by Mars AI This summary was generated by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

MarsBit•2025/09/12 16:16