Beijing Police Busts Illegal Sale of Citizen Information Involving $282M in Crypto

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.