A former technology executive in Beijing has been sentenced to 14 years and six months in prison for embezzling 140 million yuan (approximately $19.5 million) and laundering the funds through cryptocurrencies. The executive, known by the surname Feng, misappropriated corporate funds through false claims in collusion with external vendors before converting them into Bitcoin and other assets across eight offshore exchanges. To obscure the origins of the funds, he utilized coin mixing techniques to hide transaction trails. However, investigators managed to recover over 90 BTC, valued at nearly $11 million, by employing advanced electronic data analysis and blockchain forensics. This case highlights increasing instances of crypto-enabled fraud in China's tech sector, as seen in a report examining 1,253 commercial corruption cases between 2020 and 2024. Seven other individuals were also sentenced for occupational embezzlement, reflecting a broader pattern of cryptocurrency misuse in corporate corruption.

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