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Beijing Police Uncover Illegal Sale of Citizen Information
The Beijing police, in collaboration with the Beijing Branch of the State Administration of Foreign Exchange, has uncovered a series of cases involving the illegal sale of citizen information using cryptocurrencies.
Investigation Details
The investigation spanned 15 provinces and cities, including Beijing, Shanghai, and Zhejiang, and discovered crypto transactions exceeding 2 billion yuan ($282 million).
Criminal Methods
The case involved concealed and diverse criminal methods, constituting a complex “serial case” that encompassed activities ranging from dark web transactions to illegal foreign exchange dealings.
Bad Actors Use Cryptocurrency to Sell Personal Information
The Beijing police revealed that bad actors were employing the dark web and virtual currencies to engage in the illicit sale of various private information belonging to Chinese citizens.
Information Sold
- ID numbers
- Mobile phone numbers
- Home addresses
Group Activities
Information-selling groups boasted hundreds of members, with hundreds of millions of citizens’ personal data being traded within them.
Police Bust Suspect Conducting Transactions in Crypto
During the investigation, the police discovered that a suspect named Yan Moumou conducted all transactions involving the sale of citizen information using virtual currencies.
Source of Funds
The source of Yan’s funds was remarkably complex, comprising multiple origins, distinguishing him from ordinary currency speculators.
Money Laundering Facilitation
It was inferred that Yan was not a speculator but rather a facilitator of money laundering for underground banks.
Last year, authorities in China‘s Shanxi Province arrested 21 individuals allegedly involved in a major Tether (USDT) money laundering scheme.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
