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Chinese authorities highlighted a bitcoin laundering operation that went out of a major tech company. This plan worth about $ 20 million was exposed to Inside Kuashou China The largest short-video platform. Test Not given Under the leadership Beijing Headian district And Is quickly formed Country Greatest Corporate crypto scams over the years. The $ 20 million bitcoin case in China is one of the largest corporate crypto bust in the years rejecting years.
China ties $ 20 million bitcoin laundering ring with a ticket-style app
– Bradycin (@Bradycoin 10) 28 July, 2025
Jobs inside the job by manipulated bonus
At the center of the case is an employee named Feng, who Used your post for exploitation Kuashou ki Interior bonus and river system. B Was not Work alone. Seven oatthers Help Fake reward application and to install Shell companies to get funds. Plan Work By sending fake payment to fake institutions, making everything Look Valid on the surface. During this time, The interiors were orchestrated to get it out of the real corporate cash.
Convert the company into bitcoin
Once money landed in the hands of conspirators, this Was not Sit for a long time. It was quickly funnel Many foreign crypto exchanges and converted into bitcoins. To cover its track, the group used crypto mixer, tools that mix transactions To Where to hide Close Money came, People have used mixer for a long time To mask the funds, but are advanced as tracking tools, mixers are less effectively selling.
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Police manages to remember most bitcoins
Despite the laundering efforts, the investigators were acquired to trace and recover a large part of the stolen funds. They re -attained Total 92 BTC, About this $ 11.7 million, That is already money Returned To Kuushu. Authority Me It is clear that technical tricks Will not done Investigators are required Blockchain Data and ability to work on boundaries.
The sentences downloaded all eight
There are all eight people involved in this ConvictedFeng received a 14-prison sentence, the group’s rigorous. Others Found between Three And 14 years, depending on their level of participation. With the time of jail, Each was killed With finish for financial punishment. This case is uncommon because the company had access to the employees inside and how the system was done, it was taken out, not external hackers or criminal ring.
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What does it say China Crypto enforcement
Breaking on China Crypto Since 2021, but this case takes things more. It indicates that enforcement Not just focusing On traders or miners, but also on internal formulas who use equipment to steal and hide money. Ban on altoth officers Crypto trading, underground activity Continued, Such cases give a suggestion that now the authorities are looking Closer How can people inside companies exploit these devices Too,
Lessons for companies and crypto platforms
it Was not A flaws in the code. This was a difference in the oversight. Weakened internal control in iVested program created Close Opening, and Nobody paid attention Until millions went away. he is Are the complaint experts warning against now. The firms that handle large payments or tokens handle the needy to monitor who can reach and how.
looking ahead
Later, other Chinese technical companies Are required To to redo Their campus protocol. Regulators can also present new rules For handling Crypto recalls assets. Since the lines between corporate finance and digital assets keep getting blue, such stories are no longer rare exceptions. They are part of the risk landscape. The $ 20 million bitcoin case inspired Chinese companies to tighten their internal bonuses and prize systems.
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key takeaways
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The authorities revealed the $ 20 million bitcoin laundering scheme inside the Chine Tech veteran Kuushu, headed by an internal formula and seven companions.
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The group used fake bonus applications and shell companies to steal money, then looted funds through Crypto exchanges and mixers.
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Officials resumed 92 BTC, action $ 11.7 million, showing that the mixer and cross-border strategy are no longer silly.
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The court convicted all the eight conspirators, taking Ringolder for 14 years in jail and others for many years behind bars.
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The case focuses on China’s pride on the internal crypto crime, pushing companies to tighten the awards and inspection of finance systems.
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