08 Apr

Beijing police have discovered a number of incidents in China involving the unlawful selling of citizen data for cryptocurrency, with a total value of over $282 million. The statement claims that these illicit transactions were carried out using over 10 virtual wallets.

Beijing, Shanghai, Zhejiang, and fifteen other cities and regions are among the cases under question.

In addition to being a "serial incident" of great complexity that includes everything from deep web transactions to illicit cash transactions, the statement released by Chinese officials claims that these incidents are noteworthy for their covert and varied criminal methods.

Prior until now, Beijing police have received indications about the use of cryptocurrencies and the "dark web" for information sharing and virtual money transactions, including the illicit sale of Chinese residents' private information.

Liang Fei, a case officer from the Beijing Municipal Public Security Bureau's Economic Investigation Department, clarified that certain individuals used international chat software to create multiple groups and then openly sold members' personal information, including home addresses, ID numbers, and cell phone numbers.

"The personal information of hundreds of millions of citizens has been sold in the group, which has hundreds of members," Liang Fei declared. Only cryptocurrencies may be used as the transaction mechanism.

April 2024, Cryptocurrency

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